Confirmed: Universal not renewing long-term iTunes contract

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Recently reported by Appletell, has now been confirmed in a statement by MacWorld UK last night, the Universal Music Group will not be renewing “its long-term agreement for Apple’s iTunes service. Universal Music Group will now market its music to iTunes in an ‘at will’ capacity, as it does with its other retail partners.” The new deal will be renewed on a monthly basis.

Universal has always been selling digital music ever since the iTunes store was created, so this new deal could mark the end of a long partnership at any time. The losses are potentially high for both parties: Universal sells a third of new records in the U.S., while iTunes is poised to become the third largest seller for music. Apple has not issued a statement or press release so far.

Read [MacWorld UK]

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