Apple signed a cloud based music licensing deal with EMI Music according to recent reports.
Multiple sources have told CNET that Apple is also on the verge of closing a deal with the Universal Music Group and Sony Music Entertainment.
Apple has already signed a similar deal with the Warner Music Group and armed with licenses from other big record labels, it would be in a strong position to challenge similar services being offered by Amazon and Google.
Amazon and Google have released their own cloud based media storage and music streaming services but they failed to acquire licenses from music labels, seriously limiting the services they are able to offer.
Apple will be able to offer all the services that Amazon and Google can’t because they don’t have the necessary licenses, even if it means arriving late to the party. Amazon was the first one to roll out the service followed by Google, which announced its service at its I/O conference.
Sources told CNET that Apple would close the deals with Universal and Sony by the end of this week. Itappears that Apple is on track to show off the service during the upcoming World Wide Developer conference.