An agreement between Apple and Universal Music for an 'iRadio' music streaming service is imminent, according to The Verge.
Apple is expected to sign its first internet radio licensing agreement with a major record label perhaps as soon as next week, multiple sources with knowledge of the talks have told The Verge. Universal Music Group, the largest of the major record companies, has reached the final stages of the negotiations and Warner Music is close behind, the sources said.
Notably, their source said that Apple will pay royalty rates that are "neck and neck" with those that Pandora pays. That's significant since Apple initially offered half what Pandora pays, according to a previous report.
It's expected that Apple will launch its new service later this year.
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Apple is expected to sign its first internet radio licensing agreement with a major record label perhaps as soon as next week, multiple sources with knowledge of the talks have told The Verge. Universal Music Group, the largest of the major record companies, has reached the final stages of the negotiations and Warner Music is close behind, the sources said.
Notably, their source said that Apple will pay royalty rates that are "neck and neck" with those that Pandora pays. That's significant since Apple initially offered half what Pandora pays, according to a previous report.
It's expected that Apple will launch its new service later this year.
Read More