And since discriminating fans can pick and choose exactly what they want to buy, artists and their labels are more conscious than they've ever been of making sure that every song on a new album is as good as can be.

By packaging a full album into a bundle of music with ringtones, videos and other combinations and variations, we found products that consumers demonstrably valued and were willing to purchase at premium prices. And guess what? We've sold tons of them.

The iPod made music mobile, but today, how many devices do you need to walk around with? You want it on just one. And inevitably that's going to be the phone.

If you look at the market cap increase in Apple since it created the iPod versus what's happened to the music industry, you have to say Apple got the better part of that deal.

Any time that you can give the consumer more of what they want, it's a good thing. I said from Day 1 that the unbundling of the album is a good thing.

You need to look no further than Apple's iPhone to see how fast brilliantly written software presented on a beautifully designed device with a spectacular user interface will throw all the accepted notions about pricing, billing platforms and brand loyalty right out the window.

Frankly, right is right and wrong is wrong, particularly when a parent is talking to a child. A bright line around moral responsibility is very important.