Notes from Apple's Meeting with Indies

On June 5th, Apple met with independent labels to discuss adding their content to the iTunes Music service.

CD Baby! provides some very interesting notes from the meeting. According the site, approximately 150 representatives attended and received a 2 1/2 hour session on the iTunes Music Service.

The current rate of sales of the iTunes Music Store is 500,000 songs a week, with a total sales of 3-5 million. Another interesting stat is the ratio of previews:sales which is 10:1, indicating 10 previews for every sale. The notes also provide details on the way the iTunes music store works as well as Apple's policies on music distribution. The overriding theme seems to be equal-opportunities for all comers, with no special deals or treatment. "Same deal. Same agreements. Same team of people. Same treatment, all-around."

Payment details were not specified and will be provided with individual contracts. As expected, individual artists may not participate. You must be signed to an "iTunes partner".

[Update] Article essentially removed.