Apple unlikely to offer music subscription on iTunes

Apple has just come out with their latest revenue reports and they have posted some impressive results. The company is also due to start their final negotiations with the big four music labels for continuing to sell their music and video content on the Apple iTunes store.

Market rumors suggest that Apple might succumb to the demands of the music companies and start offering music on subscription on iTunes.

But Apple CEO Steve Jobs does not believe so. He spoke about the possibility of a subscription plan on Apple iTunes: “Never say never, but customers don’t seem to be interested in it. The subscription model has failed so far…. People want to own their music.”

Apple iTunes has sold more than 2.5 billion songs since it was launched and continues to remain the dominating player in this segment. They are also selling movies on iTunes and are continuously expanding the offerings by signing deals with more movie studios.

Steve Jobs said that the iTunes now has over 5 million songs, 350 television shows, and 500 movies and as per market research firms the store account for over 85 percent of legal music downloads in the United States.

Jobs spoke about the DRM free music offering on iTunes: “They’re thinking very hard about it right now…. We’ve said by the end of this year, over half of the songs we offer on iTunes we believe will be in DRM-free versions. I think we’re going to achieve that.”