Recording industry responds to Jobs 'greedy' comment

Red Herring has a detailed article on what Edgar Bronfman Jr., Warner Music Group CEO, said in response to Steve Jobs comments. Jobs earlier had stated the recording industry was just being greedy as they already make more money selling songs on iTunes than with a regular CD. His response skirted the issue of profit, stating that no content does not have variable pricing. Technically Jobs is only enforcing $.99 per song prices, not album prices which are vaiable. This of course is glossed over, Bronfman holds out that the market should decide the price not Apple. Didn't the market decide that Apple was taking the correct approach by making it such a success? Why doesn't the recording industry create other online stores that sell music instead of subscriptions, if they did they could set the price to whatever they want.

Bronfman also upped the ante stating that the recording industry should get a cut of iPod revenues. This of course is absurd, further stating that "We are selling our songs through iPod, but we don’t have a share of iPod’s revenue." If you don't like Apple's terms then don't sell your songs through iTunes.