Priced At $25/Year iTunes Match Is Genius.

If the record labels haven’t bowed down to Steve Jobs and Apple yet, they should because Apple has just created a way to monetize on illegally downloaded music.  Apple’s newest service called iTunes Match announced yesterday at WWDC is an additional service you can purchase with iCloud (to be made available this fall) which will allow you to scan your music library, match it with songs available on the iTunes Music Store, and then offer the option to download them onto devices and other computers using the same iTunes account.

What’s amazing about iTunes Match is that it does not require you purchased the song on iTunes in order to offer you a download.  As long as it’s in your music library (the quality or encoding type does not matter) you will be able to download it (for free in 256kbps AAC encoded files).  What’s even more awesome is the price.  iTunes Match is priced at an extremely affordable $25/year.

This is huge.  Finally, the RIAA and the music industry will be making money off illegally downloaded music.  The major reason I think this will be a success is because of the price.  $25/year is easy for most people to swallow and there is no downside to using iTunes Match.  There’s no DRM, you don’t have to worry about losing your music, you can access all your songs from anywhere on any device.  Additionally, if Apple doesn’t have one of the songs in your music library you can easily upload it making it accessible just like the rest of your library.

One has to wonder what the labels truly think about iTunes Match and what Apple had to do to get them onboard.  Nonetheless, it has been done and the entire iTunes Music library is available to users.  A definite win for consumers.

I know I’ll be using iTunes Match when it becomes available this fall.  What about you?