Report: Apple Inc. Nearing Music Deal With Four Major Record Labels
May 21, 2011, 13 years ago
Ryan Nakashima at the Associated Press (AP) has filed the following report:
Apple Inc. is close to securing deals with all four major recording companies on a music service that will allow users to stream songs stored on remote computer servers, presumably to an array of portable Apple-made devices, a person familiar with the matter said Friday.
Such a service would give users a wide array of music on-the-go, without having to worry about limited storage space and the need to physically connect different devices to transfer songs.
Universal Music Group, a division of Vivendi SA, is about to sign a deal that will give Apple the right to stream songs to its customers, although how exactly the service will function is unclear, the person said.
The cloud music service is likely to be unveiled at Apple's annual developers' conference in San Francisco, which gets under way on June 6. Agreements with the units of the recording companies that collect songwriting royalties have not yet been completed but are expected to be finalized soon, the person said.
The person was not authorized to speak publicly on the deals and spoke on condition of anonymity.
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