Universal Bows Out of Apple Contract
In what appears to be an attempt at a power grab, Universal decided not to renew their contract with Apple — the one that lets the Cupertino-based company sell Universal’s music in the iTunes Store.
This is a huge development, because Universal is the world’s largest music label. Fully one third of all iTunes Store sales fall in the Universal camp.
For now, all of the songs are still available. Universal is pursuing an “at will” approach, presumably to gain leverage with Apple to look for variable (read: higher) pricing in individual track sales.
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