None of the top 100 songs are priced at the lower 69¢ price. Catalog items like Creedence Clearwater Revival‘s Greatest Hits do not reflect this new budget pricing tier. That album even contains a few premium tracks like “Bad Moon Rising” and “Down on the Corner.”  However, the full album is priced at a very reasonable $6.99. Finding a 69¢ song on the iTunes Store is like hunting for Easter eggs. I finally found some by looking at Kraftwerk. “Numbers” is priced at 69¢ along with six other songs. Still, this change isn’t as bad as one could have imagined. At the time of this writing only 33% of the top 100 songs are priced at an elevated level and one could have easily assumed the entire 100 songs would be $1.29.

I will continue to watch the pricing levels and will report on any large scale trends that differ from what we see today.

Apparently, as a part of this bargain, Apple was able to convince three of the four major labels (Universal Music Group, Sony BMG, Warner Music Group) to join EMI and indie labels in offering their music without copy protection (DRM) and with higher sound quality – otherwise known as iTunes Plus. Starting today, 8 million songs will be available in the iTunes Plus format. By the end of this quarter, Apple expects to have all 10 million songs available in iTunes Plus. Steve Jobs’ Thoughts on Music finally bears all of its fruit.

Another benefit for the customer that Apple was able to negotiate is that you can now buy music on the iPhone over cellular networks. You used to have to find a Wi-Fi network to connect to if you felt the need to buy songs from your iPhone, but not now!