Apple Finalizes Cloud Deal With UMG

Apple Finalizes Cloud Deal With UMG

Apple Finalizes Cloud Deal With UMG
Following a recent report, Apple has finalized a cloud-music licensing agreement with Universal Music Group, according to Cnet. UMG is the last of the four major record labels to reach an agreement for Apple's forthcoming iCloud service, to be unveiled on June 6. According to the report, Apple has also reached agreements with several music publishers, which will receive a 12 percent cloud revenue rate. The major record labels will receive a revenue rate of 58 percent, leaving Apple with 30 percent. (6/3)

APRA Reports Record Royalty Distribution
The Australasian Performing Right Association reported a record distribution of royalties for the six months ending Dec. 31, 2010, distributing $75.9 million, up 7 percent from the previous year. The organization also reported that 57 percent of royalty payments were distributed to its 67,000 Australian and New Zealand members, and more than 19,000 members in these regions collected royalty payments, a 6.25 percent increase from the first half of 2010. (6/3)

ASCAP To Honor Badalamenti, Clausen
GRAMMY-winning composer Angelo Badalamenti will be honored with the ASCAP Henry Mancini Award in recognition of his achievements and contributions to the world of film and television music at the performing rights organization's 26th Annual Film & Television Music Awards on June 23 in Los Angeles. Composer Alf Clausen will receive the ASCAP Golden Note Award, which is presented to songwriters and composers who have achieved extraordinary career milestones. Additional honorees at the awards will include GRAMMY winners Michael Giacchino, James Newton Howard, Randy Newman, Trevor Rabin, Trent Reznor, and Hans Zimmer, among others. (6/3)

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