In the case of a CD, I pay approximately 65% for the physical disc and 35% for the license to play the music in a private setting. In the case of iTunes tracks, I pay approximately 35% for Apple’s infrastructure and 65% for the license to play the music in a private setting. In neither case do I own the music and there are limits to where I’m allowed to play it.
It's the same thing, you don't pay for one listen, you pay for it becoming yours (as well as it being printed/shipped/profit for cd seller).