As we reported earlier, Apple and major music labels have been negotiating renewal terms for their licensing agreements in order to continue selling songs at the iTunes online store.
Not surprisingly the greedy corporations wanted to enforce their will and establish a differential pricing system, where more popular songs would be sold for more money than 'fillers'. Reportedly, Apple would not agree to such terms and wanted to keep things simple at 99 cents per song. So this obviously comes as a big Apple/Consumer win, as no changes will be made to current music pricing.
"We've renewed our agreements with the major music companies and we're pleased to continue offering iTunes customers music at 99 cents per song from a library of over three million songs," said Natalie Kerris, an Apple spokesperson.
Thanks to iTunes' popularity and gross sales, Apple is now in the position to negotiate with the Big Four recording companies, and get away with their own.