Warner Music Group and Apple have re-upped their licensing deal, a source close to the negotiation has confirmed to Music Week.
The deal, which covers both the iTunes download store and Apple Music streaming service, is believed to be the first re-negotiation the streaming giant has signed since launching Apple Music in 2015. In June, it announced it had 27 million subscribers globally, some way behind rival Spotify’s claimed 60m.
Spotify’s own rash of deals with the major labels and Merlin have seen it negotiate lower streaming rates in exchange for windowing new releases and promising performance targets. It seems likely Apple will have driven a similar bargain – as predicted by Music Week back in May. Neither side of this deal have commented on the details, however.
Sony is also reportedly close to a new Apple deal.