Rumors are heating up that Apple will reveal it’s long rumored Internet radio service next week at the confab where the computer giant has unveiled new products like, you know, the iPad. Pundits project that’s a certaintly – that is, if Apple can get all their music-biz ducks in a row… Via The New York Times:
After months of stalled negotiations over its planned Internet radio service, Apple is pushing to complete licensing deals with music companies so it can reveal the service as early as next week, according to people briefed on the talks.
Apple has signed a deal with the Universal Music Group for its recorded music rights, but not for music publishing — the part of the business that deals with songwriting. Over the weekend, Apple also signed a deal with the Warner Music Group for both rights. It is still in talks with Sony Music Entertainment and Sony’s separate publishing arm, Sony/ATV, whose songwriters include Taylor Swift and Lady Gaga.
This scuttlebutt has rattled the music/tech worlds. Apparently even the mere, unsubstantiated threat of Apple Internet radio is enough to shake the market… Via MarketWatch:
Pandora (P -10.58%) ended the day down $1.80 a share at $15.22 after The Wall Street Journal reported that Apple (AAPL +0.12%) signed a licensing deal with Warner Music Group that will give Apple rights to Warner’s music publishing and recorded music.