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EMI chief sees iTunes raising some prices

A buck may soon not buy you the latest track from Coldplay.

Speaking after his company's earnings report on Wednesday, EMI Music CEO Alain Levy said that Apple Computer is likely to institute more flexible pricing for iTunes, allowing the labels to charge more for hits and less for some older songs.

"We are having discussions which make us believe it will happen in the next 12 months," Levy said at a press conference, according to the Wall Street Journal. "There is a common understanding that we will have to come to a variable pricing structure. The issue is when. There is a case for superstars to have a higher price."

It is unclear whether, of course, that is Apple's position on the matter or if it is more of a trial balloon that the music labels want floated.

Apple's 99-cent only pricing has been a major bone of contention with the labels.