You are here: Home - Uncategorized -

If music be the food of cash then Apple could be in trouble

Written by:

Apple is looking at a fine of more than £300m because it makes its customers pay more to download music in the UK than in the rest of Europe.

Apple charges 79p a song from the iTunes store and 99 euro cents in Europe, which means that British consumers pay an extra 12p. The European Commission is looking into the issue and has launched a general enquiry into the sale of downloaded music in response to a complaint made by consumer group ‘Which?’

The commission issued a statement, one clause of which said: “Consumers are restricted in their choice of where to buy music and consequently what music is available and at what price.”

It has also sent a ‘statement of objection’ to Apple and major record companies like Warner and Sony BMG over the pricing policy and, if no action is taken to remedy the complaints within two months, it could fine them 10% of their company turnover. This level of fine would amount to around £323m in Apple’s case.

The commission’s threat came to light as Apple announced it was to begin selling digital music downloads playable on all makes of MP3 player, ending its exclusive link to its iPod.

EMI has also decided to scrap the ‘digital lock’ on downloads of its music.



Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Manufacturing growth dips after ‘phenomenal February’

The rate of growth in UK manufacturing activity dipped in March but is still healthy and shows a good level...