Jobs talks about new iTunes functionality

Yesterday, Apple chief Steve Jobs made the monumental announcement that it will begin selling DRM-free tracks from EMI next month via the iTunes store. After the media event in the UK Jobs and EMI Group chief executive Eric Nicoli held an enlightening Q&A session with attendees.

AppleInsider has posted a transcript, some highlights:

• When asked when The Beatles tracks will be sold digitally and if they'll be DRM-free Nicoli responded "We're working on it and hope it's soon."
• There will be a preference in a future version of iTunes that allows you to select whether you want to buy DRM-free tracks (where available).
• Jobs mentioned that 2.5 of 5 million songs on iTunes will be DRM-free by the end of the year.
• Jobs said that video is different than music with respect to DRM "because the video industry does not distribute 90 percent of their content DRM free; never has."
• Jobs hinted at higher capacity iPods saying "storage has been going up, prices have been coming down."