Looking to expand upon their widely successful digital music distribution service, iTunes, Apple has banded together with top record labels. The iPod-maker has joined forces with EMI, Sony Music, Warner Music and Universal Music Group on a project codenamed Cocktail, according to inside sources.

By bundling liner notes and video clips with music, it is hoped that the project will drive music sales and interest in albums. Their angle, it seems, is that by packaging other material, consumers will be compelled to purchase an entire album rather than digital singles. An executive close to the plan said that they intend to recreate the heyday of looking at album art while listening to music with friends.

Those who purchase these albums will reportedly be able to play the music via the interactive book, without having to go back into iTunes. “It’s not just a bunch of PDFs. There’s a real engagement with the ancillary stuff,” the executive informed.

None of the companies involved are currently speaking about the project publicly. If the recent rumors of Apple’s tablet are true, this service would appear to hold some complimentary parallels.