Apple May Be Planning To Move Your Music Collection To The Cloud

New reports suggest that Apple may soon replace low bit-rate music tracks with upgraded, higher quality ones.

This move could likely be the result of Apple’s licensing agreement with the leading record labels in the music industry. Earlier, Business Week reported that the agreement between the two sides was now on the verge of being finalised, and also that upon being fully implemented it will allow Apple to go through a user’s entire iTunes collection and mirror it.

Mirroring entire music collections could spare the company the headache of uploading large amount of music tracks belonging to iTunes users. The Business Week report cited three unnamed sources, presumably someone with knowledge of the company’s internal affairs.

These sources also claimed that the iPhone maker had already reached agreements with three big-names in the record industry including Sony Music and EMI, and is now on the verge of signing another deal with Universal Music.

"It may be the last opportunity to stem rampant piracy and years of plummeting sales," Business Week claimed.

There are also reports of music labels indulging in aggressive negotiations with Apple with the hope of cashing-in on the royalties originating from iTunes subscriptions.