New York Post reports just how much Apple is paying the big music labels for its new Internet-based music service:
Apple will fork over between $100 million and $150 million in advanced payments to the four major music labels in order to get its iCloud off the ground, three separate sources told The Post.
The Cupertino, Calif., tech giant has agreed to pay the labels between $25 million to $50 million each, as an incentive to get on board, depending on how many tracks consumers are storing.
-New York Post, June 3, 2011
In the end, it doesn't seem like a huge amount of money. I wonder if the labels also required some onerous, anti-consumer conditions as well.
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