Apple Music Streaming Imminent, Says Source

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Spotify has quickly become a prominent on demand source for your music needs, in many cases taking place of services along the likes of Pandora and Rdio. But what might Apple–a company hoping not to lose the reigns in the music industry–have in store for us?

As The Verge notes, Apple has used its stance as the industry’s largest music outlet to control the prominent record labels, eventually pushing them to release their tight gripping DRM stranglehold.

Now music has found its way on to a variety of streaming services with YouTube, Pandora and Rdio being three of the most common names. According to a report issued Tuesday by the Recording Industry Association of America (RIAA), these services have brought in revenues topping 1 billion dollars.

Sadly, though, everything’s not a bed of roses in the music streaming service space. Spotify and Pandora are still not profitable, and they’re pushing the record labels to license music for lower and lower costs.

The New York Post said last month that Apple wants to pay a measly 6 cents for 100 song plays, half of what Pandora pays and barely 1/6 of what Spotify pays labels in most cases. This would undoubtedly give Apple the competitive edge (at least for consumers), and sources for The Verge have said significant progress is being made–with  two of the top labels: Universal and Warner.

One even said the following:

“iRadio is coming. There’s no doubt about it anymore.”

What impact would this have on the industry? But more importantly, would this only contribute to further blows to artists themselves in the form of smaller paychecks from their labels? What do you think?

[The Verge]

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