updated 11:10 pm EST, Sun November 9, 2003
iTMS: \'Coolest invention\'
Apple's : "Jobs has one more reason not to be concerned about the competition. 'The dirty little secret of all this is there's no way to make money on these stores," he says. For every 99¢ Apple gets from your credit card, 65¢ goes straight to the music label. Another quarter or so gets eaten up by distribution costs. At most, Jobs is left with a dime per track, so even $500 million in annual sales would add up to a paltry $50 million profit. Why even bother? 'Because we're selling iPods.' ..That may make iTunes the most benign-looking Trojan Horse in software history."