Adding to earlier reports suggesting Apple’s web music service, The Verge game out essential piece of information saying that Apple made really good progress and is all set to launch its web music service iRadio (rumoured) this summer. With the World Wide Developer conference scheduled for summer it might be a good time to launch iRadio service as well. It seems that Apple made significant progress in securing streaming rights from Universal and Warner, two music labels that own huge number of albums from various artists. Currently it is all about when Apple will launch the service for iTunes users, Apple currently is a world leader in music distribution service with its iTunes service and it will not be any problem to acquire customers. With the surge of music streaming services like Pandora and Spotify it seems to be a logical move for Apple to get into music streaming service as well now.
Earlier reports suggested that Apple is in fix over royalty charges that has to be paid to the music labels with current industry standards set to 21 cents per 100 songs and Apple trying to seal a deal at a mere 6 cents per 100 songs which is way lesser than even what Pandora pays at 12 cents per 100 songs. Apple argument is that it can generate way higher overall revenue than any of the existing service because of its large already existing user base. The current highest payment is made by Spotify at a staggering 36 cents per 100 songs. But with literally no profits being made even Spotify is aiming at reducing the loyalty price being paid to the music labels.
With huge number of rumours set for 2013 it is going to be an exciting year for Apple fans.
Source: AppleInsider