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Apple getting just four per cent of iTunes bounty | |
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||
| Time: 13:33 EST/18:33 GMT | News Source: Silicon | Posted By: Erick Cordero | ||
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The online music boom is to become the next dot-com bust, according to new figures, with record labels taking the vast majority of the profits from the burgeoning industry. Only four per cent of the money made from selling music online ever goes to the song shop owner, statistics obtained by the The Independent show, with the record labels making a far greater share of the cash than they ever did with traditional formats like CDs. For every song sold via Apple's iTunes which costs 99¢, says The Independent, Jobs and friends get 4¢, music publishers get 8¢ and copyright holders - that's record labels more often than not - get a hefty sum: a whopping 62¢. | ||
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