As more rumors add to the news about Apple’s cloud based music service named iCloud, it is also being hinted Cupertino is coughing up money amounting to $150 million to pay for the music rights. As they are planning to roll out the music service by Monday, the amount they are spending in to it tells us that Apple is serious about music on cloud.
However, the amount is something like advance money for the time being when the service go live. The original deal will be fixed later based on the rate and amount at which the users are going to store the tracks on their devices.
Presently, it is learnt that the iPad maker has paid huge sums of money to Universal, Sony Music, Warner Music Group and EMI for the right to use their music tracks on their cloud service. The amount was revealed as Apple struck a primary deal with Universal.
Interestingly, the latest reports on the nature of the new music service hints that iCloud will be free in the beginning. It is heard that the service will be gradually made a paid service with a fee of around $25 per year.
Moreover, the preliminary cloud service support will be limited to tracks bought from iTunes only. However, the company will work it out later to include content from other sources as well.