TEXT OF INTERVIEW
STEVE CHIOTAKIS: Apple says it’s news that people will never forget. That a longtime holdout is finally going to start selling songs on Apple’s iTunes music store.
Marketplace’s Stacey Vanek-Smith is with us live from our New York studio to talk about what all the chatter is about. Good morning Stacey
STACEY VANEK-SMITH: Good morning, Steve.
CHIOTAKIS: So don’t keep us waiting-which band are we talking about?
VANEK-SMITH: A band that’s had a long history with Apple…
YOU SAY YES, I SAY NO
CHIOTAKIS: The Beatles!
VANEK-SMITH: The Beatles. They’ve been locked in lawsuits with Apple since 1978 — when the band sued Apple over its name and logo.
CHIOTAKIS: That’s what kept the Beatles out of the world’s biggest music store?
VANEK-SMITH: That and the fact that the Beatles don’t really need iTunes. They are the world’s best selling band. Last year the Beatles had the 3rd best selling album in the U.S. And EMI, the Beatles record label, makes a lot more money selling a CDs than they would selling digital songs.
CHIOTAKIS: So if it’s not about money, what’s in it for EMI?
VANEK-SMITH: I put that question to Robert Thompson at Syracuse University…
ROBERT THOMPSON: It’s about getting this music available in ways that many people are now getting their music. I’ve got students that have never bought a CD in their entire life.
CHIOTAKIS: But it’s about money for iTunes, right? Or is it?
VANEK-SMITH: Yes and no. Here’s Robert Thompson again.
THOMPSON: Not having the Beatles was always of course a big symbolic gap as well as a financial one. It would be like having the world’s greatest bookstore, but you couldn’t sell Shakespeare in it.
CHIOTAKIS: So everybody wins?
VANEK-SMITH: Well, no you know — never. Beatles cover bands were making a mint on iTunes and they’re probably not too happy that Beatles and iTunes have …
COME TOGETHER RIGHT NOW
CHIOTAKIS: One of my favorites. Marketplace’s Stacey Vanek-Smith, thank you.
VANEK-SMITH: Thanks Steve.
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