Majors Get Millions To Seed Apple's iCloud
Report: Apple Pays $25-$50 Million In Royalty Advances To Each Major
June 3, 2011 at 11:50 AM (PT)
More details on APPLE's iCLOUD music service continue to dribble out. The most recent revelations center around the royalty advance APPLE is paying labels to sign on to its service (NET NEWS, 6/2).
A NEW YORK POST story breaks it down to anywhere from $25-50 million to each major label group. The paper also noted that GOOGLE, which failed to consummate a similar deal with the majors, is continuing to negotiate with them for its Cloud music service. It still hopes to officially launch its service by SEPTEMBER.