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News
Audible Renews iTunes Contract
Monday, July 31st, 2006 at 3:00 PM - by Jeff Gamet
Audible, the online audio book download service, said that it is renewing its exclusive contract with the iTunes Music Store for an additional three years. According to The Street, the deal means that Audible will continue to provide the audio book titles, paid podcasts, paid radio programs, and language instruction that Apple offers through its music store.
The original contract was set to expire in September of 2007. The renewed deal runs through September 2010.
The announcement is good news for Audible and its investors. Some analysts thought that Apple might have been working on its own audio book download service. Such a move would have hurt Audible's bottom line. The company already reported a second quarter loss of US$619,000.
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