Apple has finalised an agreement with Universal to include music it owns in the upcoming iCloud service which is said to cost $US25 per year, according to a new report.
Ahead of the official announcement tomorrow morning, the Los Angeles Times has said the cloud service may cost just $US25 per year, and also notes that Apple’s negotiations will see record labels earn 70% of iCloud revenue.
Apple is said to be taking 18%, with the music publishers taking away 12%.
While no confirmations have been made yet about the service, reports indicate iCloud could contain a music streaming service and other features including the ability to store files, perhaps in a replacement of some MobileMe services.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
