CNN is reporting that Apple is in discussions with the labels to offer higher quality recordings at perhaps a premium pricing in the near future (September-ish?). Music is currently distributed in 16-bit files through CDs and are further compressed when made into MP3s (unless lossless compressors are used).
It appears that such a change would be a wholesale move for the whole industry.
This might be Apple’s response/differentiator to the subscription model where Spotify, Sony and others (maybe even Apple and Google soon) are finding success. While Macs can play the new high quality 24-bit recordings, apparantly iPhones and iPods (and AppleTV/iPads?) currently aren’t built to do so.
What does the extra 24-bit sound buy you?