Bad bad bad.
I am not sure people fully understand the possible consequences of what the subscription model is.
First, this can't happen without record labels. How do indie bands get in on this? We are finally seeing the power taken away from labels and people want to give it right back.
The Subscription model can not live without DRM. DRM bad.
What happens if Sony all of a sudden decides that they don't want to play ball anymore and pulls their songs a la NBC and Fox and start their own service. Your subscription fee is no longer as valuable anymore now is it?
A subscription is typically tied to a device. What happens if your iPod gets stolen or you drop it in the toilet? You buy a new one and have to pay the fee again.
What does the music do in iTunes. Will it even play? Will it stream through Bonjour? Probably not. They obviously won't let you burn to a disc or convert it to another format. This is a huge step backwards.
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