I remember reading some email somebody send to Nintendo that said that they license all merchandise to outside parties. So I'm going to guess that other companies don't see getting the license to and then publishing an OST would be profitable enough to warrant the need for one.
But Nintendo could just do what Sega and Bandai Namco have been doing recently, and just release them digitally via iTunes or something. For as innovative as Nintendo has historically been, they sure are stuck in the past in other ways sadly.
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