Apple is expected to announce music streaming service iRadio at its Worldwide Developers Conference on 10 June, the Financial Times reports. The announcement comes three days after Apple signed contracts for its music streaming service with Sony Music and music publishing joint venture Sony ATV. Apple has now reached agreements with all three major recorded music groups and two of the three biggest music publishers.
Apple is said to have offered music publishers 10 percent of ad revenue, compared to 4-5 percent they receive from US internet radio service Pandora, which has over 70 million active listeners. In May Apple agreed to a one-off payment to Universal Music as well as USD 0.125 per 100 tracks streamed, a share of advertising revenue and a guaranteed minimum amount over the 2 or 3 year deal.
The Financial Times does not indicate what where the terms of Apple’s agreement with Warner Music. Apple rival Google launched its All Access music subscription service in May.
