Apple's annual developer conference in San Francisco.
Apple Finally Signs Universal Music, iCloud Streaming Available "Soon"
CNet reports that Apple has signed the last of the four major record labels to its iCloud service which will be officially announced next week.
The agreement means that Apple now has the rights to offer recording rights from all of the major labels. In addition, Apple has reached agreements with some of the large publishers, the sources said.This represents the final step before Apple is able to launch its iCloud service which is believed to offer music streaming to iOS and Mac users. Apple has already announced that they will be detailing iCloud at next week's WWDC keynote which takes place on Monday, June 6th.
CNet reports that labels will get 58%, publishers 12%, while Apple retains 30%. They also add that streaming won't be available on Monday but will be offered "soon". And at first, Apple will only store music in iCloud that was purchased in iTunes, but Apple is looking to include songs outside iTunes "sometime in the future".