Copyright Royalty Board Holds The Rate; iTunes Lives To See Another Day
This story was written by Joseph Weisenthal.
iTunes fans can breathe easy: The Copyright Royalty Board has decided not to raise the royalty rates online music retailers must pay publishers. According to CNET the decision was email to both the Digital Media Association (DiMA), the National Music Publishers' Association, as well as various online music retailers. Earlier this week, Fortune reported on the upcoming decision, and it unearthed some old statements from Apple (NSDQ: AAPL) threatening to shut down iTunes if a proposed rate increase, from 9.1 cents per track to 15 cents per track, actually went through. That threat seemed a bit, well, hollow, but it seems to have done the trick.
By Joseph Weisenthal