May 22, 2011

Apple Closing In On Music Streaming Deal With Universal

Apple Inc. is nearing the completion of a deal with all four major recording companies on a music service that will allow the company to stream music to a variety of its devices.

A service such as this would allow users have music on-the-go without the worry of storage space and the need to connect different devices to transfer songs.

The Associated Press (AP) reports that Universal Music Group is about to sign a deal with Apple that will allow the company to stream songs to its customers.

A source told AP that the service is likely to be unveiled at Apple's annual developers' conference in San Francisco on June 6.

According to the report, Universal would be the largest and last recording company to sign a cloud music deal with Apple after the company cut deals with Sony Corp., EMI Group Ltd. and Warner Music Group Corp.

Reuters reported that a person familiar with the situation said Universal is "within days of putting pen to paper on the new cloud service."

Amazon.com Inc. and Google Inc. have unveiled cloud music plans over the last couple months, but neither company has struck deals with the recording companies.


On the Net: