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Thanks to Apple for proving that once again the entertainment industry is stupidly chasing after defending an obsolete business model when there is a profitable new business model to be sought out.
Oh, and I noticed that the blockbusters of this summer have made this the biggest moneymaking summer for movies ever. I missed the part where the entertainment industry said "oops, I guess digital movie distribution isn't such a threat to us after all. Sorry about being such pinheads about DRM and threatening to sue everyone in sight". Maybe it'll be in the papers tomorrow.
How many of those songs were sold as albums, and hence for less then 0.99/song?
With all the Apple news, why not change the name of the column to Mac-hinist? Or just drop the -hinist part?
Mind you, I'm a big mac geek and all, but c'mon. :-P
That is a lot of songs. Guess iTunes made more money for the labels than LimeWire?
"Apple's deal with the music industry lets the labels keep just about every cent from each track sold..."
Wait a sec. Have you got a source for this tidbit? Apple pays out $0.637 to the "label" CDBaby for each song downloaded, and $6.37 for each album.
So... 3 billion times 0.353 = $1,059,000,000, which is a lot of money for Apple.
I realize that the major labels probably negotiate their percentages more aggressively than CD Baby does, but still. I don't believe that Apple is giving them all 99 cents. So 3 billion times anything greater than zero is still going to be a lot of money.
