Apple Inc. (AAPL) Said To Ink Deal With Sony Music For iRadio
Apple Inc. (NASDAQ:AAPL) has supposedly signed a deal with Sony Music for its long-rumored iRadio service, reports Peter Kafka of All Things D. If the publication’s sources are correct, then this means that all three of the major music labels are on board with Apple’s new service.
Rumors About Apple’s iRadio Service
The company has reportedly been working on deals with the big three music labels for quite some time. Some reports have indicated that Apple Inc. (NASDAQ:AAPL) was pressing for the deals to be done ahead of its Worldwide Developers’ Conference (WWDC) next week because it wanted to unveil the service at the conference.
If all of these reports are true, then we could hear an announcement about iRadio as early as Monday.
Potential Barriers May Still Exist For Apple
Of course there is a chance that there are still some barriers Apple Inc. (NASDAQ:AAPL) must take care of. Kafka reports that earlier this week, Apple still didn’t sign Sony / ATV, which is the music publishing division of Sony Music.
However, sources have told All Things D that the problems Sony / ATV had with Apple were less of a problem than those that existed between Sony Music and the tech giant. Also sources have said that just days ago, Apple had also cemented a deal with Warner Music Group, which would mean that that deal is still very fresh as well. The tech giant reportedly signed Universal Music Group earlier this year.
Expectations For Apple’s iRadio
It should be noted that Apple probably won’t actually launch the iRadio service at WWDC next week. Instead the news might come in the form of an announcement for developers who attend the conference. Monday will be the keynote speech for the conference, so that may be the earliest we could have any official word from the tech giant.
The service is expected to provide some stiff competition for Pandora Media Inc (NYSE:P). Some say iRadio will be a free music streaming service which offers more control over songs than other Web radio options like Pandora Media Inc (NYSE:P) but less control than services like Spotify, which operate almost solely on demand.