iTunes Radio, which launches later this fall alongside iOS 7, will come along with the support of some big-name advertisers: McDonalds, Pepsi, Proctor & Gamble and others have already signed on for ad-space, according to AdAge.
The report says that some of the deals are in the single-digit millions to tens of millions, and run through 12-months.
Also nice for the companies, these launch-day advertisers will have exclusivity in their respective industries through the end of 2013. Once 2014 starts, iTunes radio will open up to more advertisers. The minimum buy-in, says the report, is around $1 million.
The advertisements will come in the form of audio, video and interactive. Some ads are even targeted as specific devices.