(Hypebot) – Apple is set to announce its revamped music service on Tuesday at its World Wide Developers Conference. As the clock counts down, there has been a steady stream of specualtion. Here's our vetted roundup of the latest leaks and substantiated rumors:
No Deal Is Done
Negotiations with labels are going right down to the wire. Both sides are cutting it so close that Apple may have to announce its new service next week and launch it after the contracts are done.
The sticking point?
"The music labels are seeking a benchmark for negotiations with other services, including Spotify," according to Bloomberg. "The labels take 55 percent of Spotify’s monthly $9.99 rate, and publishers take about 15 percent. Labels are pushing for closer to 60 percent from Apple."
The final deal has major implications for every streaming music service.
What We Think We Know…