Apple has already told Electricpig that they will be “releasing the open specs for iTunes LP soon, allowing both major and indie labels to create their own.”
This is a little different than the $10,000 production fee Gizmodo heard about last week.
But, for those of you who are too anxious to wait, iTunesLP.net is attempting to build a group of tutorials with all the information needed to build your own iTunes LPs.
iTunesLP.net has already released an iTunes LP for Walt Disney’s Fantasia. You’ll need to bring your own music, but this shows a lot of promise for bands and indie labels alike.
Update 11/27/09: Apple Releases iTunes LP and Extras Developer Documentation