Apple is reportedly going to the 70/30 revenue share model that Steve Jobs introduced.
All eyes are on Apple again this coming Monday when the WWDC 2015 keynote will reveal new products and services. There could also be big business news. The Financial Times reports that Apple plans to change the 70/30 revenue share model it imposes on the iTunes store.
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The move is supposed to better compete with competing markets like Google Play. The change is also triggered by the introduction of the music streaming service.
It's rumored that Apple will charge $10/month or $120 per year for unlimited streaming of music. According to a new report on Bloomberg, Apple is still not done negotiating the deals with the music labels for the new service.
The labels are supposedly playing for higher revenue shares than they got from Spotify. According to the report labels want 60% compared to the 55% they get from Spotify. Publishers take 15% leaving Apple with 25%.
Obviously the music industry expects that the Apple Music service will be a huge success. They want to benefit as much as possible from it. Streaming in general has grown dramatically and Warner Music for instance already make more money from streaming than they make from downloads.
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The Apple WWDC 2015 keynote will stream live online on Monday at 10am PDT.