Industry To Battle iTunes Prices

(andPOP) - The recording industry is continuing its fight with iTunes, the top selling online downloading site.

Canwest News Service reports that the recording industry is realizing the agreement they made with Apple in 2001 to fix the price at 99 cents was not the best one for the record industries. iTunes is the number one site in the U.S. for legal downloading and has sold 4 billion songs since its launch.

"We are tied to this 99-cent model and it has been a bit of a collar around our neck," Graham Henderson, president of the Canadian Recording Industry Association, said.

Record labels want the ability to adjust their prices on the site, instead of being tied into an agreement that was reached nearly seven years ago.

Henderson said one of the changes that should be reflected is that the prices for music by new artists should not be the same as more established, successful performers.

iTunes is currently the second highest music selling location, beat by Walmart - though experts expect iTunes to surpass Walmart by the end of the year.