NBC is reportedly pulling its offerings from iTunes after price negotiations fell through with Apple – not good news for Apple at all when NBC content supposedly accounts for up to 40% of iTunes video downloads! After a couple years with Apple in an utterly dominant position with iTunes, are the minions finally gathering the nerve to fight the system? Are we about to have a coup on our hands?

With its’ 40% share of video downloads, NBC is kind of like the iTunes of iTunes – they are in such a strong position that they feel they can dictate the terms for the content to anyone. In the past the music companies have tried this hand with Apple, only to fold like little obedient children in the end. Yet NBC appears to be a problem child, and if Apple isn’t careful that problem child mentality could empower the other children to rise up.

No The Office, no Battlestar Galactica, no Heroes? Suddenly I’m starting to rethink video on iTunes. No Universal Music Group tracks, no Fox movies? Suddenly I’m starting to rethink iTunes in general.

Apple is still in an utterly dominant position even without NBC – it’s the music sales, not the video sales that drive the service – but it could all come crumbling down rather quickly. Especially if mass defections start happening to another service such as Hulu – where NBC is a partner and will be taking its content.

I like iTunes a lot, but I’m not in anyway tied to it as my online movie and TV show hub. If everyone bands together and decides to go somewhere else, I’ll follow.

I think Apple is really letting an opportunity pass them by with video downloads on iTunes in general. They need HD content, they need movie rentals, and they need them like say on Wednesday, September 5th.

Heavy is the head that wears the crown.