Jobs: iTunes Songs to Stay at 99 Cents

Don't expect the price of songs on iTunes to rise in the near future, at least if Steve Jobs has his way. Calling the record labels "greedy," Jobs said Apple has no plans to up prices. He mentioned that the profit margins on digital music are much higher than conventional distribution, and said there are no reasons why the price needs to change.

Labels are upset with Apple over its unwillingness to allow for higher prices, and are hoping to negotiate more favorable terms when iTunes contracts come up for renewal. "We're trying to compete with piracy, we're trying to pull people away from piracy and say, 'You can buy these songs legally for a fair price,'" Jobs told reporters Tuesday at Apple Expo Paris. "But if the price goes up a lot, they'll go back to piracy. Then everybody loses."

© 1998-2014 BetaNews, Inc. All Rights Reserved. Privacy Policy.