Jun 12, 2011

Apple’s iCloud fetches deals with major record labels

Image representing Apple as depicted in CrunchBase

Image via CrunchBase

Apple launches iCloud later this week, the Cupertino-based company has signed deals with major records labels for the new music service.

Warner Music Group, EMI Music Group, Universal Music Group and Sony Music Entertainment are among those which reportedly inked the deals Thursday, according to bloggers.

Apple boss Steve Jobs will unveil iCloud at the annual Apple Worldwide Developers Conference in San Francisco Monday.

Bloggers say Apple will initially offer iCloud service free to those who buy music from its iTunes digital download centre. Later, it will charge a $25 annual fee.

Under the deals signed with major record labels, Apple will share 70 percent of any revenue from iCloud’s music service with record labels, as well as 12 percent with music publishers holding the songwriting rights. Apple is expected to keep the remaining 18 percent,” according to a blogger with the LA Times.

Much is not known about iCloud except that it will allow users to upload music to their Apple computers to then play from a Web browser or Internet-linked Apple devices.


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