10-25-2012
That's the update via Bloomberg, which seems to have the inside scoop on all the details. Apple is developing an online music service to challenge Pandora and apparently is trying to cut a deal with labels that gives them early access to new music. Bloomberg says Vivendi, Universal, Warner, and Sony all visited Apple's home office to see what the company was up to with its planned service and discussions are focusing on how to share revenue.
According to Bloomberg, in addition to an upfront fee, record companies are seeking a percentage of ad sales and the ability to insert their own commercials for artists. Apple sees the service as a way to grow its iAd mobile advertising platform, and is exploring ways to integrate iAd with iTunes to steer customers back to iTunes, according to the report. Apple has more than 400 million iTunes accounts.
Read the full Bloomberg story HERE
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