Apple and EMI are currently holding a joint press conference in London. The event started at 1PM BST (8AM EST) and is said to discuss “an exciting new digital offering.”

It is widely expected that the event will involve EMI dropping DRM on select songs on the iTunes Store.

Slide sent anonymously to World of Apple claiming to be from current EMI press conferenceSlide sent anonymously to World of Apple claiming to be from current EMI press conference

Updates – Chronological Order:

  • MDN claims: EMI to sell entire music catalog without DRM, Apple to be first to sell EMI’s DRM-free music…
  • Event has started, but live performances are currently taking place
  • Performance by “The Good, The Bad and The Queen”
  • Purported slide visible above. DRM Free music as well as increased quality
  • Published slide said to be real deal, states:
    DRM-free track at twice the sound quality
    or
    Standard sound quality tracks with DRM

  • EMI press release.
  • Confirmed.
  • Superior sounding tracks with no DRM will sell for,$1.29/€1.29/£0.99
  • Standard sounding tracks with DRM will cost, $0.99/€0.99/£0.79
  • Customers can “upgrade” currently owned digital music for, $0.30/€0.30/£0.20 per track.
  • EMI music videos will also be available on the iTunes Store DRM-free with no change in price.
  • [From press release] Bit rates available in varying stages up to CD quality
  • Steve Jobs states Premium tracks will be 256kbps AAC, available next month
  • Conference ends, Q&A session begins.