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Apple VP: iPod makes money, not iTunes Store


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Murlyn

 
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Source: MacMinute.com

Apple VP: iPod makes money, not iTunes Store
October 16, 2003 - 23:03 EDT Apple said it doesn't expect to make great profits from selling songs on its iTunes Music Store. Instead, the company is counting on the store to boost sales of the iPod, which has much higher margins. "The iPod makes money. The iTunes Music Store doesn't," Apple Senior Vice President Phil Schiller told CNET News.com after the launch of the Windows version today. Schiller said that the store is close to profitability but is still losing money, and that Apple doesn't see the online music business as having much long-term profit potential. "Just trying to have a business around downloadable music would be tough," he said.

My Comments: And here I thought they were making a decent amount from this thing.. let's see.. is this really how it works out? 94 cents for the music companies and 5 cents for Apple? I would be curious what the breakdown is..
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well with over 10 million songs sold to only 5% of the market in less than a yr, i would think that its not just chump change coming their way

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