“iRadio” revealed to be launched this summer

The Verge reports that IT-manufacturing giant service solutions provider Apple is set on launching its newest web radio service this summer.

Dubbed “iRadio”, the report cites its source as an executive in the music industry, who notes that Apple is sure to be rolling out its own web radio service soon, considering that the arena’s vast potentials for market domination stands to be quite lucrative.

Apple iRadioLast March, rumors regarding royalty rate negotiations have been talked about regarding Apple’s “iRadio”, with Apple reported to have offered 6 cents per 100 songs being streamed by content owners.

The figure stands to be lower than what other current-running web radio entities pay for songs, with Pandora noted to pay 12 cents per 100 songs being streamed.

It is also reported that Apple is set on paying 21 cents per 100 songs to the Copyright Royalty Board for organizations that don’t have their own broadcast corporations. Spotify is reported to pay 36 cents per 100 songs, while iHeart is noted to pay 22 cents per 100 songs.

Officially, Apple has not yet confirmed if an “iRadio” will be officially launched by summer, but various experts and sources, as noted in The Verge report, are convinced that it is bound to be.

Various sources, as jotted down in the report, indicated that Apple has gained proper agreements between Warner Music and Universal, in securing the proper streaming rights for a number of the talents represented by the record labels.

The new iOS 6.1’s “Radio Buy” user interface buttons are also perceived as a hint in Apple’s move in eventually launching its “iRadio” web radio service.

What do you think? Will you actually tune in to “iRadio” if it does really come out?

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