REPORT: APPLE SIGNS DEAL WITH MAJORS

Apple has recently inked multiyear licensing deals with Universal Music, Sony Music and Warner Music, according to a report in the Financial Times.

The new deals do not, however, include a proviso to allow Apple to bundle music with its TV service. The FT says a “super-bundle” of media content “may be months away.”

Apple never breaks out music’s contribution to the bottom line but its services department, which includes the App Store, iCloud, Music and TV+, made $46.3b last year, up from less than $30b in 2017.

Spotify, meanwhile, continues to have licensing talks with Universal Music and Warner Music, which have been going on for about a year.