Rumor: Licensing is holding up cloud-based iTunes

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According to tips sent in to Electronista, the reason that Apple’s planned iTunes streaming service yet to be released is due to the fact that the Cupertino-based company has yet to finalize licensing deals with major record labels. Apple currently has licensing deals which allow customers to stream music from their own computers to their devices, but streaming music directly from Apple’s servers — one of the features we mentioned in our exclusive on the service — would require a new deal be inked. Although Apple would like to get the deal finalized as soon as possible, allegations that many record label executives have not have the service detailed to them indicates we may still have a ways to go.

Via electronista