Apple snaps up Sony Music for iRadio
Apple has signed Sony Music for the upcoming iRadio service, a deal which means Apple now has agreements with all three major labels for the service.
Ahead of the annual Worldwide Developers Conference, set to begin on Monday, the deal means that Apple will most likely unveil the iRadio service at the event. AllThingsD reports that the Cupertino company has been pushing music executives from all labels to join the bandwagon. In addition, Apple also sewn up a deal with Sony/ATV, the music publishing wing of the label.
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Sony/ATV’s CEO Marty Bandier said it is “a two-year introductory deal,” and the company receive 10 percent of any ad revenue that Apple generates from the music. Bandier said the deal is the highest paying digital music publishing pact currently.
Apple isn’t expected to formally launch iRadio at WWDC. However, many details of the service are expected to be revealed at the conference, geared towards iOS developers. iRadio is said to function like Pandora and will be a free streaming music service. It will also reportedly feature audio and banner ads sold through Apple’s iAd mobile network.
In earlier deals, Apple had got Warner Music and Universal Music on board for iRadio, but there were some obstacles in getting Sony to sign up, which have now been smoothened out. Talks with Sony had come to a loggerhead because the Japanese company want payment for all songs, including those users might skip midway.[source:tech2]