Apple Signs Cloud Streaming Deal With Universal Music Group

Apple has signed a cloud streaming deal with Universal Music Group, the last major label it needed to get onboard, according to CNET.

Apple still needs the approval of music publishers; however, CNET notes that it has reached agreements with some of them already.

Details about the agreements are few, but here's how the revenue from iCloud song sales will be split, according to the sources: the labels will get 58 percent, and publishers will receive 12 percent. Apple will take 30 percent.


According to the site, music streaming won't be available on Monday; however, it should launch soon. Initially only iTunes purchases will be supported but the service will reportedly expand to include tracks from outside iTunes in the future.

Update:
The L.A. Times is reporting that the service will initially be free with plans to eventually charge a subscription fee of about $25 a year.

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