The sources added that The agreement means Apple now has the rights to offer recordings from all of the major labels.
Apple will announce iCloud at WWDC next week (June 6th, in San Francisco), which will reportedly cost just $25 per year after an initial free trial period.
the service initially will be offered for a free period to people who buy music from Appleâ€™s iTunes digital download store, allowing users to upload their music to Appleâ€™s computers where they can then play from a Web browser or Internet-connected Apple device.
The company plans to eventually charge a subscription fee, about $25 a year, for the service. Apple would also sell advertising around its iCloud service.
Details about the agreements are few, but here’s how the revenue from iCloud’s music service will be split, according to the sources: the labels will get 58 percent and publishers will receive 12 percent. Apple will take 30 percent.
An important note: Apple may use iCloud to eventually stream movies, TV shows and more further down the road.
though the service is initially focused on allowing consumers to store their music on Appleâ€™s servers, the Cupertino, Calif., technology company ultimately envisions the service to be used for movies, TV shows and other digital content sold through iTunes, said a person knowledgeable of the companyâ€™s plans.
Nonetheless, expect to see the iCloud come with more than just music features, if not on Monday, than sure in the future.
The question for your comment Plz is do you think $25/year is a solid price?