Leading up to the launch of its new music streaming service iCloud, VentureBeat reports Apple has finally signed all four major U.S. record labels—Universal, EMI, Sony, and Warner—paying out between $100 million and $150 million for their participation. Having finally acquired the rights from Universal, the final holdout, Apple will pay each record label between $25 million and $50 million.
Apple will officially announce the iCloud on June 6 at the Worldwide Developers Conference in San Francisco, but sources say Apple will likely charge somewhere around $25 a year for a subscription. The record labels will reportedly receive 70 percent of iCloud revenue—generated by subscriptions and potentially ads—with another 12 percent to the publishers, and 18 percent going to Apple.
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