It currently costs $1.99 for a standard definition TV on iTunes, and rumor has it Apple is pushing the networks to halve that price, making it just $1.

Apple's belief, media executives said, is that drastically cutting prices could spur sales of TV shows on the iTunes digital entertainment storefront, which have so far frustrated Apple executives.

Apple does not disclose video sales data, but analysts have said they were a small contributor to the store's estimated $2bn sales in 2009.

It would also halve the price of "season passes" which currently cost far more than buying the DVD season set of the same show. Whether this would be in addition to, or instead of, the rumored subscription TV service is unknown.

Unlike music which was devastated by piracy and print media which is facing soaring costs and declining revenue, TV and movies still make some money, which means their executives are less inclined to evolve beyond old-world thinking (we'd even go so far as to say consumer-hostile thinking at times).

Apple has always believed their competition was "free as in piracy" and wants to price their media low enough that convenience and conscience win out -- it's easier and you feel better about just buying it via iTunes.

Is Apple right about TV? Is $1 that magic price?

[Financial Times via Business Insider via Gizmodo]