Apple’s Rhapsody?

3d_apple_logo_102.jpgThe Financial Times reported yesterday that Apple was readying a subscription-based version of iTunes. I fully expected Lefsetz to blow a gasketat the news, but thus far, he’s said nothing.

ZD Net’s post speculates that Apple will eventually get to an annual pricing structure, not the one-time forever fee (tied to an iPod purchase) mentioned in the FT story.

I’m a long time advocate of subscription services. I don’t need to own every CD under the sun, but I would like to fire up whatever song suits my mood. ZD Net’s Larry Dignan agrees:

 I’d rather have a subscription music service. I’m sick of my music. That’s at least part of the reason why I subscribe to Sirius–I’m lazy and would rather have someone just play new tunes I haven’t heard than have to go looking for them. Of course, the other primary reason for Sirius is Howard Stern, but that’s another post.

The point: Apple has what it takes to make music subscriptions the norm. In fact, Apple can make music subscriptions palatable to the masses. Music is perfect for the subscription model if done well (and Apple can do it well).

I expect the “own versus rent” fanatics will be in full dudgeon over this, however.