The arrival of lyrics on iTunes could present exciting opportunities for Apple, which already offers high-quality album artwork downloads to its customers. A deal between Gracenote and Apple would almost certainly pave the way for lyric downloads to digital music players, allowing iPod users to sing along to their favorite tunes. Karaoke products and possibilities also exist.
In speaking to Reuters, Gracenote said licensing lyrics should boost worldwide music publishing revenues, estimated at about $4 billion annually, by as much as $100 million annually within the next 10 years.
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