Friday July 6, 2007

Universal will not renew iTunes contract

In another demonstration of hard-headed greed and short-sightedness, it looks as though Universal Music is changing how they interact with iTunes, the #3 distributor of music behind Wal-Mart and Best Buy. Universal, on the other hand, releases one out of every three records put out all around the world. Universal owns Interscope, with whom Nine Inch Nails has been signed for over 15 years.

This doesn't necessarily mean that you won't be able to pick up NIN releases on iTunes anymore, but "Universal wants to be able to offer some music by some bands exclusively through other online music services." Universal and the other major record labels have been pushing for higher prices as well as demanding an even larger cut than they're currently extorting.