Apple Sony Music Agreement For IRadio

Posted: Jun 8 2013, 3:37am CDT | by , in Apple

Apple Sony Music Agreement for iRadio

In a contract signed with Sony Music Entertainment, Apple cleared the way for its iRadio project. This agreement between the two companies will benefit both in the long run and may be launched at WWDC event.

A pact was signed the day before today between Apple Incorporated and Sony Music Entertainment. It will lay the ground for iRadio, Apple’s pet project. This news was kept secret yet got leaked out by unknown sources who requested that their names be withheld from public scrutiny. Several other music companies have already signed agreements with Apple. The whole purpose was iRadio which will allow consumers to build personalized stations from the iTunes compendium.

According to Bloomberg, somewhere in the contract the property of the late Michael Jackson figured too. Sony’s consensual deal with Apple covers a period of two years and will lend Sony access to 10% of the returns on advertising. It is more than double the prevalent 4% profit margin in the music industry. It is indeed a welcome move since it pays tribute to the untiring efforts of musicians and writers of lyrics. The much-acclaimed iRadio will feature songs and ditties from Universal Music and Warner Music. Basically, iRadio is a continuity of iTunes and is a no-cost program.

The streaming service had been resisted before by Sony. It will take some time for the radio to get off the ground and gain public approval. The late Steve Jobs also tried to win over several music companies before with regard to iTunes but he failed desperately at the task. The present agreement was accomplished after a whole 365 days of dilly dallying. The open Net radio will be the next big thing on the global scene. Apple has entered the song business arena and it isn’t going to look back. The rest as they say will be history.

Apple’s main rival will be Pandora which caters to a local American audience. However, Apple will serve several countries throughout the world. The main resistance throughout the negotiations came from Sony which showed a lot of attitude. The future for Apple is looking good. It has a lot to gain from this deal of deals. The entire global audience loves listening to music for pleasure especially during leisure time. With the work week shortening by the hour more and more recreational time is being opened up for the ordinary individual. That means he or she will listen in to iRadio whenever the opportunity arises. It almost seems that Apple has done for music what Columbus did for America. Rediscover it for the better!

Image Credit: Getty Images

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.




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