A New York Times report reports that Apple's offer to record labels for the licensing fee for the infamous music subscription service is quite low, reaching half of what the corresponding service Pandora offers.
Specifically, the report states that Apple's initial offer was 6 cents per 100 songs while Pandora pays 12 cents per 100 songs. In comparison, iHeart pays 22 cents per 100 songs and Spotify pays 35 cents per 100 songs.
Apple also reportedly hoped to have the service ready for the launch of the iPhone 5 last year, but delays in negotiations forced it to postpone the announcement. The information seems to indicate that iRadio will be related to iTunes Match but will be supported by ads. Apple's current target seems to be for the summer, likely with the launch of the iPhone 5S.
Dimitrios Georgoulas @ GreekAppleNews
