Apple Closing In On Streaming Music Deal

| Rumor

Apple has apparently made some headway with record labels and is close to swinging a deal that would let it launch an iTunes-based streaming music service. The alleged deals are enticing to at least two of the labels because they would also include an easy way for listeners to purchase the songs they stream directly from the iTunes Store.

Universal, Warner may be ready for iTunes streaming music dealUniversal, Warner may be ready for iTunes streaming music deal

Deals are apparently pending with Universal Music Group and Warner Music, according to CNET, and Apple is pushing for a summer launch. Apple's streaming music service will launch first in the U.S., and the company is planning on expanding into the U.K., Japan, Australia, France, and Germany shortly thereafter.

The labels have, however, been somewhat reluctant to sign on because Apple wants to pay streaming licensing fees that are about half of what Pandora pays. The trade off for Universal and Warner is that they may see increased revenue through in-stream music purchases from listeners.

This new streaming service will support the Mac, Apple TV, iPhone, iPad, and iPod touch, which means users can listen at their desk, in the living room, and on the go, and potentially buy more music.

Reports of a pending streaming music service from Apple have been circulating for years, and so far none have panned out. Apple isn't commenting on this latest rumor, but with the popularity of streaming services like Pandora and Spotify, it may be time for the Cupertino company to get into the game.

[Some image elements courtesy Shutterstock]

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