Summary
NEW YORK - When Apple rolled out iTunes for the masses in the spring of 2003, the music industry was at a point of transition - and chaos.
Entering the new millennium, albums were enjoying blockbuster sales of several million units for its superstar artists, and profits were booming. Yet the threat of Napster and other forms of illegal downloading threatened to eviscerate those profits as many music fans were starting to get used to the idea that music, and loads of it, could be free.See the full content of this document
Extract
Itunes Great for Apple, but Was It for Music Biz?
Apple's iTunes entered into that landscape with a concept that wasn't exactly new: a system where you could pay for songs online. Yet iTunes, with its simple interface, its simple concept - 99 cents per song - and revolutionary MP3 device, the iPod, made it the golden standard.
The entry of Apple and its leader, Steve Jobs, who died Wednesday, into the music...See the full content of this document
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