Remember those earlier rumours that new contracts between Apple and the music industry were going to go down to the wire? Today, Apple announced that it will continue to offer individual songs from its over 3 million song library at the current price of 99 cents each. The four major labels (Universal, Warner Music Group, EMI and Sony BMG) have all agreed to the deal. The labels wanted to introduce a tiered pricing system where more popular or newer songs would have been more expensive than others.
Apple did not disclose how long the new deals were good for.