Apple Signs Universal Music for Upcoming Cloud Based Service [iCloud]
Apple has cut a licensing deal with Universal Music Group according to the latest report published by CNET. This will enable Apple’s iCloud music store to offer songs from the largest of the four top record companies. It is widely believed that Apple has now signed deals with all the top four record companies as well as major music publishers, giving Apple’s iCloud streaming service a major head start.
The Cupertino outfit on Tuesday announced that it would unveil the highly anticipated cloud based service called iCloud on June 6 at its Worldwide Developers Conference (WWDC) in San Francisco. However, Apple did not mention whether iCloud will have any music streaming features or any aspects of the rumored TV shows and movies.
Sources at CNET have reported that revenue from iCloud song sales will be split, where the labels will get 58 percent, and publishers will receive 12 percent. Apple will take 30 percent as they do with all other services they currently offer. The sources also reported that streaming will not be available on Monday but will be offered soon and that the Apple digital locker will store only music purchased from iTunes in the beginning.
Apple is said to have plans to store songs purchased from outside iTunes sometime in the future, perhaps after Apple solidifies it’s servers and expands the North Carolina data center.