Excited About Apple’s iRadio? Here are 5 Things You Need to Know
Apple’s (NASDAQ:AAPL) highly anticipated iTunes Radio is set to launch next month, and more and more music manics are looking forward to having more than one place to listen to their favorite music, free of charge. But there has to be a catch to a streaming music service of the world’s most popular songs — and that’s where the product’s advertising efforts come in.
Just like the popular Pandora Radio (NYSE:P), listeners should expect to be subjected to many advertisements on iTunes Radio, and several high-profile companies are now gearing up to get their names heard on the streaming music service, no matter what the cost. There’s a cost, alright.
Adage reports that contracts for these highly-prized marketing spaces range from high single-digit millions of dollars to tens of millions of dollars, but as of now, four major partners have already signed on to take the leap. Apple has reportedly promised them a 12-month advertising campaign and exclusivity within their own industries until the end of 2013, so listeners should get ready to hear a lot from these four brands if they elect to listen to the new iTunes service.
In addition, with the help of Adage, here are six things every expectant iTunes Radio consumer should know about the new service, and what he or she should prepare for in terms of the ever-presents ads.