Sony Music has finally agreed to sign on to Apple’s iRadio service, according to a person familiar with the negotiations, reports AllThingsD. Sony was the last holdout for signing on to Apple’s digital radio service. Apple now has agreements with all three of the big music labels.
We reported just days ago that Apple was pushing hard to finalize these deals – possibly prior to a WWDC 2013 announcement of iRadio. It looks like Apple finally closed the deals it needed for an imminent announcement. It’s now seeming pretty clear that Monday will bring the debut of the service. iRadio is not expected to actually launch during WWDC, but instead be introduced to the public for the first time.
There’s no information on the terms of the deal that Sony signed on for, but previous information suggests that the two companies may have agreed upon the same rate Pandora pays – 12.5 cents per 100 songs streamed. Sony was apparently asking for a higher rate, something Apple likely ultimately agreed to. It’s rumored that Apple agreed to pay Warner Music more than twice what Pandora pays.