New Video iPod and iTunes Video Download Service Presents New Opportunities For The Music Industry

Apple Computer Inc. has just unveiled anew iPod capable of playing videos evolving the music  device into a multimedia platform.

Videos will now be sold alongside songs on Apple’s iTunes Music Store providing a huge potential revenue stream for record labels. But which will be smart enough to jump on the bandwagon with creative products like "the making of" interview clips sold alongside classic songs?  Or will the labels simply recycle old videos.  Not that that is bad, but it doesn’t begin unleash the potential for fan satisfaction and revenue that this new device and iTunes video downloading presents.

Related to the new iPod release Jobs also announced a groundbreaking deal with ABC TV allowing the online iTunes store to sell episodes of hit shows like "Desperate Housewives" and "Lost" for $1.99 each, making them available the day after they air on television.  Could video Podcasting be far behind?