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News: Music labels worried about Apple’s focus on apps

Record label executives are concerned about Apple shifting its focus from music to iPhone and iPod touch applications, according to a BusinessWeek report. The article suggests that due to Apple’s role as the world’s largest music retailer and dominance of the U.S. with roughly 90% of digital downloads and a 74% share of the MP3 market, the labels are more dependent on Apple than before, while Apple’s core business is growing less…

From iLounge | All Things iPod, iPhone, iTunes and beyond. Please read the complete article and let us know what you think below.

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