Apple inks multiyear music deal with Sony, Universal and Warner
The iPhone maker is ramping up its offerings to compete with music platforms like Spotify
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Apple Inc has sealed multi-year licensing deals with major music labels like Universal Music, Sony Music and Warner Music in recent months, the Financial Times reported on Thursday, citing four people familiar with the matter.
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The new contracts, however, do not include an agreement to bundle Apple Music with its television service, the report said, adding that a “super bundle” may be months away.
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Apple did not immediately respond to a Reuters request for comment.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 437.15 | -1.51 | -0.35% |
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The iPhone maker is seeking to bolster its sales with paid subscriptions to services such as Apple Music, but it trails its top rival Spotify Technology SA. Apple has more than 60 million paid music subscribers to Spotify’s 124 million.