It was a kind of "stop the presses!" moment when Warner Music [WMG 7.6 
-0.20 (-2.56%) 
] boss Edgar Bronfman took the stage earlier this week at the big GSMA Mobile Asia Congress in Macau, telling the assembled guests that they should embrace the model put forth by Apple Inc [AAPL 163.95 -2.44 (-1.47%) ] . Wired News calls this a "Hell freezes over" moment!
A little background here: Bronfman has been a longtime and vocal critic of Apple, the iTunes pricing scheme and of course the company's revenue sharing plan. Previously, he has called the Apple model "unfair.")
Now Bronfman (the insightful, cutting-edge genius is saying), "We used to fool ourselves," he said. "We used to think our content was perfect just exactly as it was. We expected our business would remain blissfully unaffected even as the world of interactivity, constant connection and file sharing was exploding. And of course we were wrong. How were we wrong? By standing still or moving at a glacial pace, we inadvertently went to war with consumers by denying them what they wanted and could otherwise find and as a result of course, consumers won."Wow! The trail-blazing leader adds, "For years now, Warner Music has been offering a choice to consumers at Apple's iTunes Store the option to purchase something more than just single tracks, which constitute the mainstay of that store's sales. By packaging a full album into a bundle of music with ringtones, videos and other combinations and variation we found products that consumers demonstrably valued and were willing to purchase at premium prices. And guess what? We've sold tons of them. And with Apple's co-operation to make discovering, accessing and purchasing these products even more seamless and intuitive, we'll be offering many, many more of these products going forward."
Bronfman added, "The new iPhone is "beautifully designed," featuring "brilliantly written software," also a "spectacular user-interface....that throws all the accepted notions about pricing, billing platforms and brand loyalty right out the window."
So to all mi amigos who refused to sell Apple at 190 a couple weeks ago, against my recommendation, because of the "what it" factor ("what if" it goes up to 200, even though I bought it at 50)...maybe this should help move it back up. And I hope you sell some at 190 next time you have a chance.
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