Apple has now reportedly signed three of four major U.S. record labels as it prepares to launch a new cloud-based streaming music service in the near future. According to Bloomberg, Apple has inked a deal with Sony that will allow the label’s massive catalog to be used alongside a forthcoming streaming product Apple will likely unveil next month. The news comes just one day after Apple is said to have finalized a similar deal with EMI.
Google recently unveiled its Music Beta by Google service and before that, Amazon launched its Cloud Drive and Cloud Player products. Neither service is accompanied by deals with record labels, however, so their utility is reduced to providing users with a means to upload music they have purchased elsewhere and then stream it to a variety of devices.
With the support of major labels, Apple will be able to introduce a paid service with a great deal of added functionality. “Streaming iTunes” has been rumored to be in development for years, and it looks like Apple is finally ready to make it a reality.
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