Beyonce could be named the first artist to sign on to Apple’s forthcoming record label.
According to reports, the tech company is making a huge decision to start a label of their own — it’ll run digitally, meaning that they will handle all the digital purposes of the album, such as distribution and promotion.
Their share from this deal would be that they hold the digital rights to any music that’s published under their label, and from what sources are saying, Apple is eagerly hoping that Beyonce will be their first huge grab.
‘Yonce famously released her album exclusively to iTunes last year. The execs over at Apple knew Beyonce was releasing the record but stayed quiet about it seeing that Bey wanted the project to be a surprise.
The singer has somewhat made a connection with the people over at Apple so it shouldn’t come as a shock if Beyonce does end up signing over with their newfound label.
Here’s what’s being reported:
“The tech giant doesn’t need to get into the record business in order to accomplish that goal; all it needs to do is to sign these superstars to exclusive deals for digital rights, thus effectively shutting out Spotify and every other service. Even if each deal costs $20-30m, that amounts to a drop in the bucket for this moneymaking colossus. As a further selling point, it doesn’t hurt to have Jimmy Iovine—the best closer in the business—and Dr. Dre in the house.”
$30 million is a lot of money for an artist who is only giving up their digital rights to the company, not the physical copies sold in stores. Those may still be linked with their other label. So in Beyonce’s case, she could still stay signed to Columbia Records but the digital sales would go to Apple’s label.
Sounds like an interesting idea. Everything is digital these days so to have free promotion on iTunes and snag a huge deal through just those sales alone would be an ideal situation for any artist.
Taylor Swift, Justin Timberlake and Coldplay have also been said to be in talks with Apple.