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The Almighty Buck

Submission + - UMG Considers iTunes Contract Terms 'Indecent'

Bemopolis writes: "Brace yourselves for a shocking revelation: The CEO of Vivendi, parent company of UMG, is not happy with the current deal with the iTunes Store.

"The split between Apple and (music) producers is indecent ... Our contracts give too good a share to Apple," Vivendi Chief Executive Jean-Bernard Levy told reporters at a gathering on Monday organized by the association of media journalists in France.
I must admit, it is outrageous what Apple is charging them for maintaining an online store that doesn't require the manufacture of physical media; foots the bill for advertising, bandwidth, credit card charges, and software updates; and maintains what must be an incredibly modest server farm (only 6 Msongs in it, after all). In case you've forgotten just how bad Apple has them over a barrel,

At present, UMG, the world's largest record company, gets 0.70 euro ($0.99) out of the 0.99 euro retail price charged by iTunes, Vivendi said.
From what I could read through my tears, the usual argument about older music priced at the same rate as new music is trotted out. No doubt UMG would prefer to make the former cheaper, while maintaining the current pricing for the latter. At least he had the decency not to claim that they were trying to defend their artists against predatory iTunes pricing. Or maybe he just misplaced the index card with that boilerplate on it."
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UMG Considers iTunes Contract Terms 'Indecent'

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Logic is the chastity belt of the mind!