APPLE, WMG MAKE A DEAL: BLOOMBERG

Apple has closed a licensing deal with WMG, according to a 9/6 Bloomberg report. Interestingly, it’s the first agreement with one of the Big Three since the launch of Apple Music in mid-2015, which makes it significantly more complex than a straightforward re-up. Presumably, the deal Warner forged earlier this year with Spotify, which got its rate lowered if it went on to meet certain benchmarks, provided the two sides with a roadmap on the streaming side.

What makes this pact different is that Spotify doesn’t also operate a key music retailer—and the iTunes store is the uber-retailer. The new deal also covers iTunes. Sources tell Bloomberg that WMG has agreed to lower the previous rate it set with Apple on the previous iTunes deal.

Sony Music is close to a deal with Apple as well, according to these sources, who claim that a pact with UMG is “further off.”