Apple Battled with Google and Amazon over Beatles Library
On Tuesday, Apple announced that it had finally secured the rights to the Beatles' music catalog for inclusion in the iTunes Store. And while it took much longer than most Beatles fans would have preferred, the Beatles have now found their rightful place within music's grandest digital storefront. But fewer than 24 hours after Apple's big announcement, more details are becoming known about the struggle that took place to seal the deal.
According to a report Wednesday in The New York Post, Apple was engaged in a fierce battle with Google and Amazon to reach an agreement with the band's label, EMI. Ultimately, the deal secured by Apple is one of exclusivity that will last throughout 2011. By Wednesday morning, the Beatles' album "Abbey Road" cracked the top ten spot on the iTunes album charts.
If you're thinking, however, that EMI's decision to openly embrace (for the first time) the world of digital music downloads was made strictly for the benefit of music and Beatles fans, think again. As the Post reported, EMI is in deep debt and the financial distress weighing down the company was likely the biggest factor considered when digital rights were given to Apple. It isn't yet clear just how much money EMI will pocket from the deal, but the Beatles' music will likely generate substantial sums of money for the embattled label and the surviving members of the band and their families.
New York Post