iTunes tracks price hike from April 7

Apple's plans to enact variable music pricing at the iTunes Store will take effect April 7th, says the LA Times. Citing music industry executives, the LA Times reports that while the date has yet to be officially announced by Apple, the company has been informing record labels that the change will go into effect on that date.
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Apple announced in January that it would be moving to a pricing model where tracks sold for either $0.69, $0.99, or $1.29, based on the wholesale cost set by the labels; in return, Apple was able to secure DRM-free music from all three remaining holdout labels.

Many mainstream hits, including both new and old songs, will be raised in price from 99 cents to $1.29. As previously announced, a number of older tracks should simultaneously be reduced in cost to 69 cents, in a bid to encourage back-catalog sales. The changes are generally acknowledged to be a result of pressure from major labels, which have been unhappy with digital sales as CD-based distribution continues to decline.

However, despite the DRM-free nature of the more expensive downloads, some music industry insiders are criticizing the move, particularly in the current economic climate.

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