Apple Inc. (NASDAQ:AAPL) has been rumored to be working on an iRadio service for quite some time. In March it was announced that the service had been delayed because of licensing negotiations, but apparently the company has made some headway since then with two of the three major record companies—Universal Music Group and Warner Music.
The Verge reports that sources told it Apple Inc. (NASDAQ:AAPL) could sign a licensing deal with Universal Music as early as next week and then with Warner Music not long after that. However, the sources also said Apple’s talks with Sony Music are not as far along as its negotiations with the other two major record companies.
Media reports said last month that Apple Inc. (NASDAQ:AAPL) offered licensing fees of a mere 6 cents per 100 songs streamed, which is approximately half of what Pandora Media Inc (NYSE:P) pays. However, the Verge’s sources said Apple will instead pay about the same rates that Pandora pays.
The sources also pointed out that while Apple Inc. (NASDAQ:AAPL)’s iRadio service will be like Pandora’s service, it won’t be exactly the same because it will have more on-demand features. Rumors say that it would enable users of iTunes to discover new music while also helping Apple increase its download sales and generate ad revenue.
Apple Inc. (NASDAQ:AAPL)’s music service is supposedly expected to launch sometime this year, although the tech giant has yet to officially announce it. But no matter how quickly Apple Inc. (NASDAQ:AAPL) can get its Internet music service up and running, it’s still lagging behind Twitter, which just launched its service today.
However All Things D reports that only a few famous Twitter users will be able to use the service for the next week.
Any non-famous people interested in the service will have to wait until next week apparently.