UPDATE 2: More Apple iCloud Details Leak
(UPDATE 2) Apple has added a deal with Universal to the other three other major label agreements it reached earlier, as it readies an official Monday launch of it's iCloud music service. according to multiple sources. Major music publishers are also apparently on board, and Apple is in talks to add film and television shows to iCloud. Deals have not been finalized, however, with thousands of indie labels and publishers. UPDATED leaked Apple iCloud details:
- Apple will reportedly charge $25 a year for it's iCloud music locker with free trials for iTune's buyers. Apple will also sell ads on the service.
- Streaming is restricted to computers and Apple connected devices.
- For now at least, iCloud will store only music purchased on iTunes.
- Apple is advancing major labels $100-150 million, so far, indies are not being offered advances. Details here.
- Cut of the iCloud fee: Labels 58%, Publishers 12%, Apple 30% according to CNet.
- Universal and Sony had been demanding 60% of the revenue.
- Apple has offered independent labels 53% of cloud revenue. Some indie label executives tell Billboard that they are pushing for a bigger share.