updated 11:00 pm EDT, Sat September 20, 2003
Apple's iTunes Music Store was not only a wake-up call to the rest of the industry, but also to consumers-- to the hassles of free file sharing. Apple CEO Steve Jobs, however, says "it's not a way to make a lot of money," according to TIME magazine: "With as much as 70% of each sale going to the record label and the rest eaten up by surprisingly high costs for things like infrastructure and credit-card fees, sales volume must but doesn't yet compensate. "It's not a way to make a lot of money," acknowledges Jobs. No, it's a way to help sell iPods," which Apple says almost quadrupled after the launch of iTMS.