In a move straight out of the Old School Record Biz handbook –
Apple is advancing the major labels $100 – $150 million to allow the launch of its iCloud music locker next week, according to reports. Google had apparently offered the same big labels $100 million to let it launch a robust cloud music service, but got bogged down over efforts to fight piracy. What are independent labels being offered for advances?
According to our sources at Hypebot, nothing. In fact, to add insult to injury, Apple apparently offered at least some indies a smaller share of revenue than the majors: 53% vs. 58%. Some independent labels and distributors are pushing back, but may be forced to give in if iCloud becomes popular. Is this fair?
Do you think indie labels and artists deserve the same deal as the majors?
We at Pressing Media believe that it is the independents that will allow the majors to survive, which is why we continue to support local community associations and events.
One day soon, maybe the Apple Goliath will see that its the little guys that make the difference ..
Have a great weekend
Kw
