Apple is shutting down iTunes

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If you’re in love with iTunes store, this may be bad news for you.  The store is now nothing but a dead service walking. The 16-year-old business will soon be gone!

Bloomberg Friday reported that Apple is set to announce the end of its iTunes store, the music business it launched in 2003.

If true, it will mark the end of a 16-year business that kick-started the digital commerce revolution.

When it was started in 2003, Steve jobs had told Billboard that Apple hoped to help the music business navigate out of the Napster-driven file-sharing free-for-all that devastated companies’ bottom lines.

“The record companies are in a difficult situation because people want to buy their music online, but there’s no real way to do it, so they steal it,” Jobs said. “The users are in a bad situation because most of them don’t want to steal music online, but there’s no other way to get it that’s any good.” Jobs proposed iTunes as “a middle way, a middle path out of this.”

Within the first 5 years after it’s launch, iTunes evolved into a much-loved application for virtually every consumer of contemporary music who imported millions of compact discs onto hard drives. With MP3s gathered from music blogs, thumb drives, MegaUpload links and Limewire, the iTunes platform allowed for organized collection with little concern to a file’s origin.

Details about the end of iTunes are not yet fully known, but with the news today from Bloomberg, iTunes is as good as gone. Details will gradually unfold from next week.

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