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Apple offers DRM free songs, lower prices in iTunes

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07 January 2009 @ 09:53 am ET

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Apple Inc. announced Tuesday that its iTunes online music store will music from major record labels which is free of digital rights management or copy-protection for as little as 69 cents.

Apple Inc. executive Phil Schiller unveils the new pricing plan for iTunes during his keynote address at the Macworld Conference and Expo in San Francisco, Tuesday, Jan. 6, 2009. Schiller said iTunes songs would come in three pricing tiers: 69 cents, 99 cents and $1.29. Record companies will choose the prices, which marks a significant change, since Apple previously made all songs sell for 99 cents. (AP Photo/Paul Sakuma) (AP Photo / Paul Sakuma)

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The announcement was made by Senior Vice President Phil Schiller during the company's final presentation during the Macworld trade conference. He said that iTunes song prices will come in three prices starting from 69 cents, 99 cents and $1.29.

Apple said the record companies select the prices customers will pay, according to a press release accompanying the announcement.

Apple shares dropped $1.18, or 1.3 percent, to $93.40 in afternoon trading.

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