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Apple Set To Strike A Deal With Records Labels For iRadio Streaming Service

Apple Set To Strike A Deal With Records Labels For iRadio Streaming Service

CNET is reporting that Apple is very close to striking a deal with two major record labels, Warner Music and Universal Music Group for its iRadio streaming service.
We heard earlier this year that negotiations between Apple and the record labels had hit a brick wall as Apple were offering extremely low royalties compared to others in the market such as Pandora and Spotify. It now appears that things have changed and both Warner Music and Universal Music Group and close to striking a deal with Apple after  alternate revenue streams which the competitors do no have were introduced to the negotiations.

That includes a quick way for consumers to buy a song they hear, potentially boosting download sales from iTunes, as well as a revenue share of new audio ads Apple is planning to add to the free service, according to sources.

The product would be tied to iTunes, and available on mobile devices.

Apple is reportedly aiming to have iRadio released by this summer which means they still have a lot of work to do. Sony Music Group have yet to agree and also this deal is still not complete with Warner Music and Universal Music Group.

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