That’s according to the Financial Times, which reports that the recorded music deals were struck in the past few months.
The agreements do not license Apple to bundle its Apple Music service with Apple TV, said the FT’s sources.
Apparently, Apple wants to pull together a ‘super bundle’ including TV, music and more – but it will need new deals with the majors agreed in order to do so.
In contrast to Apple, MBW understands that Spotify has new and/or existing multi-year deals in place with Sony Music and indie agency Merlin – but that its long-running deals with Universal and Warner have now expired.
These parties remain locked in negotiations with Spotify over new deals. A sticking point in these discussions is believed to be the system by which SPOT’s podcast-generated revenues are paid out (if at all) to the platform’s music partners in future.
Apple Music sits within Apple’s Services division, which generated $46.3bn in revenues last year.Music Business Worldwide