“Apple will fork over between $100 million and $150 million in advanced payments to the four major music labels in order to get its iCloud off the ground, three separate sources told The Post,” Claire Atkinson reports for The New York Post.
“The Cupertino, Calif., tech giant has agreed to pay the labels between $25 million to $50 million each, as an incentive to get on board, depending on how many tracks consumers are storing,” Atkinson reports. “The size of the advance payments have been a major hold-up for Google, which had been negotiating with the music companies and now will likely have to pony up higher fees to get a rival cloud service into action, said music industry sources.”
Atkinson reports, “One executive explained that the cloud service will initially be free to people who bought their music from Apple’s iTunes store, but Apple is said to be considering a $25 a year charge in the future.”
Read more in the full article here.
[Attribution: CBS News. Thanks to MacDailyNews Reader “GetMeOnTop” for the heads up.]