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The Boston Globe

Business

iTunes celebrates a decade, faces new challenges

NEW YORK — When Apple launched its iTunes music store a decade ago amid the ashes of Napster, the music industry — reeling from the effects of online piracy — was anxious to see how the new music service would shake out.

‘‘The sky was falling, and iTunes provided a place where we were going to monetize music and in theory stem the tide of piracy. So, it was certainly a solution for the time,’’ said Michael McDonald, who cofounded ATO Records with Dave Matthews and whose Mick Management roster includes John Mayer and Ray LaMontagne.

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