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On Monday June 10, 2013 Apple will announce the lunch of its internet radio service. This comes after long rounds of negotiation with Sony Music about the revenue share. At the beginning Apple offered to pay Sony 4.1% of all ad revenue. After negotiation, this percentage was raised to 10%. Apple intends to call the new service “iRadio”. It’s not known how Apple will deal with Vodafone internet service “iRadio”. Vodafone, as one of the biggest mobile service providers in Europe, broadcasts its radio service to Ireland. Apple iRadio will let users build their own stations from music they choose. Also using tracks they've bought through iTunes or stored on iCloud. The recommended tracks will be displayed based on the user choices.
The talk in Wall Street is about the effect of this announcement on the stocks of Apple and Pandora. Since the rumors about the new internet service, Pandora stock dropped by 10% before it started to recover. As of today, Apple stock only raised by 0.8%.
So, when does iRadio start?
While it’s not known when the new Apple iPhone will start, most of experts suggest that the service will be available to the public by fall. The new service will be free for all Apple users. It’s expected to be added as a basic app on iPhone 5. Also, there will be a link to the iRadio on Apple TV.
Apple presents an extraordinary example for any entrepreneur. While you’re selling a physical product or info product, you need to build up a special connection with your clients. The difference between Apple and Pandora is the difference between having a fan and having a customer. Creating a community around your product will make the difference between average success and outstanding presence.
Lunching iRadio is not the only anticipated announcement on Monday. Apple may open the door for app developers to enter the Apple TV market. By leveraging the wide base of iPhone users, Apple is expecting to control the internet radio. Still, it’s too early to judge about the new service and its effect on the competitors like Panorama.