Sony (SNE) Might be Delaying Launch of Apple's (AAPL) Streaming Music Service
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Sony Music (NYSE: SNE) is using delay tactics with Apple (Nasdaq: AAPL) over a new streaming music service. And other industry players aren't happy about it.
The NY Post reports that Universal Music and Warner Music Group are getting tired of waiting for Sony and Apple to hammer out a deal. Universal has already signed an agreement with Apple and Warner is poised to ink a deal within days, if not weeks. Both would like to get the ball rolling on launching the service.
One industry exec quoted by the Post said that Apple is giving partners a 50/50 revenue share of advertising, royalties, and minimum guarantees. He noted that the opportunity is gigantic given the ecosystem.
Sony is said to be holding out for better royalties on streaming.
Apple thinks is streaming radio service will grow to the size of Pandora Media's (NYSE: P) in three to five years. Pandora last reported having 70.1 million monthly active listeners.
Sony and Apple are both indicated lower Thursday.
The NY Post reports that Universal Music and Warner Music Group are getting tired of waiting for Sony and Apple to hammer out a deal. Universal has already signed an agreement with Apple and Warner is poised to ink a deal within days, if not weeks. Both would like to get the ball rolling on launching the service.
One industry exec quoted by the Post said that Apple is giving partners a 50/50 revenue share of advertising, royalties, and minimum guarantees. He noted that the opportunity is gigantic given the ecosystem.
Sony is said to be holding out for better royalties on streaming.
Apple thinks is streaming radio service will grow to the size of Pandora Media's (NYSE: P) in three to five years. Pandora last reported having 70.1 million monthly active listeners.
Sony and Apple are both indicated lower Thursday.
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