When you make your way over to the iTunes Music Store, you’ll find that many of the newest releases are selling for $1.29 each. That’s for a single audio file that you can then send along to your iPhone or iPod too. Amazon wants to give you a better deal.

In an effort to lure folks away from the Cult of Steve for music downloads, Amazon has undercut the pricing by nearly 50%. You can now buy the same new singles via the Amazon MP3 store for just 69 cents each. It’s the same song and, presumably, the same kind of quality.

This isn’t the first time that Amazon has made such an attempt, having tried to get people away from iTunes for at least a couple of years. Even so, Apple is holding steady at about 70% market share for digital music downloads, whereas Amazon’s offering is a paltry 10% of the market.

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