Apple saves 99 cents per song pricing

The iTunes Music Store’s 99 cents-per-song pricing structure seems safe for now. Apple has secured contracts that should keep things the same, according to a recent report in The Financial Times .

The Financial Times reports that Apple has renewed contracts with Universal, Warner Music, EMI and Sony BMG — the “big four” music publishers who represent most of the popular music available for download from the iTunes Music Store.

Executives at Warner, EMI and Sony have expressed their dissatisfaction with iTunes’ pricing structure in recent months, and have suggested that consumers would be willing to pay more for high-demand music. Apple CEO Steve Jobs has responded by calling them “greedy.” Universal, for its part seems content to let the market evolve for the moment.

The Financial Times said that music industry executives indicated that they have “little leverage over Mr. Jobs” and quoted one unnamed source as say that the labels “need Apple too much right now” to make a stand.

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