Record Companies Bitch And Moan All the Way. . . Away from the Bank

First they didn’t like the P2P music piracy. Now they don’t like the legal pay sites. As the record industry recorded its sixth straight year of losses, ITunes turned in staggering numbers. Record companies don’t have the technology or the understanding of the product but they have come up with an innovative way to lose less money. They want to charge you more.

“Followers of the digital music industry [‘Read: record executives,’ Balls.] are voicing concerns that the growth of legitimate downloads-- such as those offered by Apple's iTunes Music Store- have incurred lasting damage to record labels' profitability. "Music has become a disposable item," said Nicholas Firth, chairman and CEO of BMG Music Publishing. "For many people it's a traffic builder," Firth said. The $1.1 billion earned last year in digital music sales is mostly comprised of online iTunes sales, and some believe that Apple's dominating website is part of the problem, according to a report from the Associated Press” (IPodnn)

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