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WSJ outs Apple's iTunes Radio terms, says many are 'more generous' than Pandora's
According to a document obtained by the Wall Street Journal, Apple will pay 0.13 cents and 15 percent of advertising revenue to major labels for every song played on iTunes Radio in its first year, climbing to .14 cents and 19 percent in year two. In comparison, Pandora currently pays 0.12 cents per song, and WSJ added that Apple is offering publishers more than double Pandora's rate for royalties. There are some exclusions to Apple's offering, however: it won't need to pay for songs streamed for 20 seconds or less, those that are already in your iTunes library or certain promoted tracks. For its part, Pandora said that comparing the two is unfair, since varying features between the services could trigger royalty payments differently. It also addressed recent controversy about those royalties in a detailed blog post (see the More Coverage link below). In addition, insiders say that Apple's primary aim is to encourage listeners to buy more tracks on iTunes, in turn boosting hardware sales. Still, the new service will no doubt reap the benefits of Apples new iAd mobile advertising platform, so it's likely that Cupertino will have its cake and eat it, too.
Source: WSJ Digits
Original Link: http://www.engadget.com/2013/06/27/wsj-outs-apples-itunes-radio-terms-for-labels/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget
Engadget
Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WIMore About this Source Visit Engadget