iRadio rumors: Apple reportedly in negotiation over radio service

According to The Verge, who obtained additional information from sources working in the music industry, this new service called iRadio could hit the market this summer.

“Radio is coming. There’s no doubt about it anymore,” one of the insiders told the site.

With iRadio, users can listen to music and be redirected to the iTunes to possibly buy the title.

In early March, the New York Post reported that negotiations revolved around Apple’s payment demands.

Insiders said that Cupertino wants to pay record labels $0.06 for every 100 songs streamed via its radio service.

For a comparison, Pandora pays $0.12 per 100 songs, while Spotify pays approximately $0.35 per 100 songs.