iRadio service is expected to be launched at the annual developers conference in San Francisco, US,
Apple has sealed a deal with Sony/ATV Music Publishing, which is the final record-firm holdout required for the iPhone maker’s planned entry into online radio service iRadio.
The latest deal covers a two-year introductory period and offers Apple with 10% of all advertising revenue generated from its music catalogue, which is claimed to be more than double the existing standard 4% rate in digital music publishing agreements, All Things D reported.
In addition, to Sony, Apple has earlier signed deals with Vivendi’s Universal Music and Len Blavatnik’s Warner Music Group.
The latest move marks an end to Apple’s hunt for a music-streaming service to complement iTunes for the past year, while the progress has been delayed in signing deals with music firms.
The new service would enable users to develop custom stations as per an artist or genre that draws on music from the firm’s iTunes library, as well as allow buying and download songs that are played.
In 2012, Apple planned to develop an online radio streaming service to rival Pandora Media’s similar service, while dropped the plans over licensing costs.