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iTunes store first opened as the iTunes Music Store.
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Universal Music Group (UMG) announce that they are lowering the wholesale pricing on nearly all top line CDs and instituting a $12.98 Manufacturer Suggested Retail Price in the U.S.
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The iTunes Store increase the price of hit singles by 33%, from 99 cents to $1.29
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Apple's iTunes was found to make up a quarter of all music sales in the U.S.
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Universal Music Group (UMG) annouce plans to decrease the prices of almost all CDs to between $US6 and $US10