Apple Advancing Major Labels $100-$150 Million For Streaming Rights
Date: Friday, June 03, 2011 @ 09:58:42 UTC

Apple is paying the four major music labels in the US between $100 million and $150 million in advance of launching its music streaming service iCloud, the New York Post reports. It's a hefty payout, but Apple likely wouldn't have received participation from major labels for iCloud without it. Google just recently launched its online music storage locker without the blessing of record labels, reportedly because of complications dealing with labels hefty up-front fees. Complete Article

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