Is iCloud Costing Apple Up To $150 Million in Music Label Payments?

PublishedJune 3, 2011

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So iCloud might be free for users, then cost $25/year after that. Sounds fair. But what about the music labels? Apple's reportedly paying the four big labels between $25 - $50 million each, according to the New York Post.

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Altogether, that figure could amount to up to $150 million, with The Post reporting that Apple's taking 30 per cent of the annual $25 fee for themselves, 12 per cent being paid out to the music labels, and the remaining amount going to the artists. [New York Post]

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