Apple’s negotiations with Warner Music and Sony Music to launch its “iRadio” streaming music service have hit a snag, The Financial Times reported. Earlier reports suggested Apple was close to striking deals with two major labels, and Universal Music has reportedly already agreed to terms that will see its catalog made available on Apple’s upcoming streaming music service, which should be similar to those offered by Pandora and Spotify. Apple’s most recent offer to Sony and Warner was 12.5 cents per 100 streamed tracks, the report claims, but neither label has accepted the terms at this point. According to FT, they want Apple to pay more than the standard rate paid by Pandora and similar services because of its “broader ambitions for iRadio.” It is unclear exactly how Apple plans to structure the upcoming service, which the company seemingly hopes to launch this summer.
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- Sony Music