iOS 8.4 Music-3

Apple is still negotiating with record labels to finalize deals for its new music streaming service, a new report claims. The service is expected to get its official unveiling at WWDC, and sources say both sides want to complete the deals in time.

"The labels are pushing to get a larger chunk of revenue than they receive under their current deals with Spotify Ltd., a competing streaming service, people familiar with the negotiations" told Bloomberg.

This is thought to be one of many snags Apple has run into while negotiating with music labels. A recent report, which revealed Apple was looking to recruit A-list guest DJs, claims the company wanted "the moon and the stars," and was demanding too much during its negotiations.

Others say the labels want more from Apple than they currently get from rival streaming companies.

"The labels take 55 percent of Spotify's monthly $9.99 rate, and publishers take about 15 percent," Bloomberg reports. "Labels are pushing for closer to 60 percent from Apple, the people said."

Apple has had plenty of success with the labels in the past — it is now the largest music retailer in the world thanks to iTunes — and it already has a music streaming service under its belt following the $3 billion acquisition of Beats Music last year.

The Cupertino company will almost certainly get its wish eventually, then, but whether that happens in time for its WWDC keynote on Monday remains to be seen.