New York Post Says That US$1.25 Singles Are Coming To iTMS [Updated]

[Update: Apple has denied, categorically, the story published by the New York Post, saying that 99 cent pricing remains. Read our full coverage for more information. - Editor]

As this author discussed in a recent column, the major record labels may be close to enforcing higher prices at the iTunes Music Store (iTMS). The New York Post is reporting that the labels have sought, and gained, pricing of US$1.25 per song for select songs at the iTMS, though the story does not name its sources. From the story:

Music fans may have to start shelling out more to download some of the most popular songs on Appleis iTunes digital music service, The Post has learned.

The five major record labels have been in negotiations recently with Apple over pricing and other issues associated with the year-old download service, which was launched to great fanfare last April.

All five of the deals - with Universal, Sony, BMG, EMI and Warner Music - have already been signed, sources say, and the new pricing is already being rolled out for albums.

EMI and Sony Music, which this week launched its own download service called Sony Connect, were said to be the most aggressive on pricing.

Under the terms of some of the deals, the prices for some of the most popular singles could rise to $1.25, according to sources familiar with the negotiations. Songs have previously been priced at 99 cents across the board.

"It allows for some flexibility down the road," said one source.

Thereis more information in the full article.