The New York Post has an exclusive today about Apple's attempts to get rights from record labels for a proposed music streaming service, which are apparently falling on deaf ears because its offer is "seen as way too cheap."
A high-level executive at one label told the Post that "Apple wants a rate that is lower than Pandora's," and the numbers don't lie. Pandora currently pays a royalty of 12 cents per 100 songs streamed; Apple's initial offer was about 6 cents per 100 songs streamed.
Spotify currently pays the highest royalty rates at about 35 cents per 100 songs s
