Apple iCloud Advances Major Labels $100-$150 Million, Indies Get $0 (Zero, Zip, Nothing)
Apple is advancing the major labels $100 - $150 million to allow the launch of its iCoud 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 Hypebot's sources, 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?