UPDATE: iTunes Plus now offers 2 million songs at $0.99.

In an brief interview for the Wall Street Journal published on Friday, Apple's CEO Steve Jobs announced that Apple will cut the price of its iTunes Plus songs to $0.99.

The feature, which was announced on May with EMI consists of songs that don't include DRM (Digital Right Management) software protection and can be transfered freely to any computer or be burnt on CD without any restrictions.

"It's been very popular with our customers, and we're making it even more affordable," Mr. Jobs told the WSJ.

Initially priced $1.29, the iTunes Plus songs are encoded woth a superior bitrate of 256Kbit, as opposed to a 128Kbit bitrate offered for standard song purchases.

In addition, Apple has already started offering less expensive iTunes Plus songs from independent recording companies. The price cut for all iTunes Plus songs (including EMI's) will be effective within the next few hours.