Apple Offered Labels Half What Pandora Pays for Streaming Music?

Apple Offered Labels Half What Pandora Pays for Streaming Music?

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Apple has made an offer to record labels for its rumored music streaming service that is half what competitor Pandora is paying, reports the New York Post.

The tech titan, the most valuable company in the world, made an initial offer to the label of about 6 cents per 100 songs streamed, sources said. That’s about half of the 12 cents per 100 songs paid by Pandora, the leading online radio service that Apple is taking aim at, sources said.

Music labels want Apple to pay at least 21 cents per 100 songs streamed so the discrepancy is quite large. Spotify reportedly pays 35 cents per 100 songs.

Recently, it was also reported that YouTube is looking to launch its own music streaming service later this year.

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Apple Offered Labels Half What Pandora Pays for Streaming Music?
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Jack black
Jack black - March 7, 2013 at 8:44pm
This article is incorrect when it states: "The tech titan, the most valuable company in the world". Exxon mobile is more valuable and that's just off the top of my head I'm sure I could think of more if I wanted to. Please correct this error
MrEdofCourse
MrEdofCourse - March 7, 2013 at 9:58pm
They're obviously measuring value by market cap, and by that measure, they are correct. Apple currently, as of this writing, has the highest market cap in the world at 404.34 Billion compared to 2nd place Exxon Mobile at 399.37 Billion. Good luck thinking of more if you want to.
justabrake
justabrake - March 7, 2013 at 8:27pm
I pay $35 a year with pandora and would never go anywhere else they are to far advanced then them all out their.
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