Apple has paid out a massive $163,338,890 in “accrued historical unmatched royalties” for Apple Music. That’s more than any other streaming music service, including Spotify, which currently leads the overall global market share.
The Mechanical Licensing Collective received a total of $424.3 million in these historical royalties. Variety notes this means some songwriters and publishers will receive a big “windfall.”
The royalty battle between Qualcomm and Apple just took a nasty turn, according to a new report that claims the chipmaker is aiming to deal a major blow to Cupertino’s iPhone business.
The battle between Apple and Qualcomm is intensifying, with Qualcomm claiming that Apple is set to stop making licensing payments related to the iPhone.
The result of this is that Qualcomm will have to revise its earnings forecasts to give a smaller number, due to Apple cutting off one of its major sources of revenue until the dispute is resolved.
Not only is graphics chip designer Imagination Technologies getting kicked to the curb so Apple can bring its chipmaking technology in-house, but the company is also set to have its remaining royalty rate cut.
According to a new report, Apple is planning to pay Imagination just one-third of its current royalty rate as it winds down its supply deal with the British company over the next two years.
Spotify now has a whopping 60 million active listeners, 15 million of which are paying for a Spotify Premium subscription, the European company confirmed today. Spotify has added around 2.5 million paying subscribers in just two months — and that’s despite being given the boot by Taylor Swift.
Apple will pay music labels more than Pandora for its new iTunes Radio service, according to terms reviewed by The Wall Street Journal. In addition to a set fee, the Cupertino company will also cough up a cut of its net advertising revenue every time a song is played.
