May 19, 2011 13:48 GMT  ·  By

Apple is finishing negotiations with record companies, and has already signed a cloud-music licensing agreement with EMI Music, in what is considered as more evidence of an impending iCloud announcement.

CNet reports that Apple has signed with EMI, and is very close to completing deals with Universal Music Group and Sony Music Entertainment, while a previously confirmed agreement with Warner Music Group will enable the Cupertino tech giant to launch a fully licensed cloud-music service, as opposed to those offered by rivals Amazon and Google.

According to the sources allegedly familiar with Apple’s plans, the negotiations with Sony Music Group and Universal Music Group could conclude as early as next week.

If this is to be confirmed, Apple will have signed contracts with the top four record companies before its annual Worldwide Developers Conference, where it is believed an iCloud announcement is imminent.

Apple’s Worldwide Developers Conference is scheduled to kick off in June 6 at Moscone West in San Francisco, California.

Should the deals go down as planned, Apple’s advantage over Google and Amazon’s offerings will be immense.

In addition to a potentially more attractive interface, Apple will offer users the ability to instantly stream content to their devices without having to waste time uploading their libraries to the cloud.

These ‘master recordings,’ as they’re called, would be accessible to anyone who owns a particular song title, because Apple has them licensed.

As CNet points out, this process was made famous by Lala, a music company that, coincidentally, is now owned by Apple.

Whether or not such a service will be popular remains to be seen. There is still skepticism that people are willing to pay top dollar for a spot in the iCloud.

Then again, Apple could also offer different payment plans, perhaps even free accounts with limited storage, much like Dropbox does.