Apple Reaches Music Deal With Warner, Eyes Sony Pact
- IPhone maker plans to pay record labels smaller percentage
- Paid streaming service has revived music industry; sales up
Apple Said to Seal Warner Music Deal
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Apple Inc. has secured a deal for songs from Warner Music Group, the technology giant’s first agreement with a major label since introducing its on-demand music service two years ago, according to people familiar with the matter.
Warner will provide Apple a catalog spanning Ed Sheeran, the Red Hot Chili Peppers and Bruno Mars for both iTunes, the online store, and Apple Music, the streaming service. Apple plans to pay record labels a smaller percentage of sales from Apple Music subscribers than it did under its first deal for the streaming service, the people said, asking not to be identified discussing private information.