Jennifer Booton reports for MarketWatch, “While Apple Music got off to a rough start with scrutiny over its free-trial royalty rates, music-industry insiders representing both major and independent labels agree on one thing: Apple’s streaming service is a big plus for the industry.”
Booton reports, “One oft-repeated theme at a news conference Tuesday afternoon at the New Music Seminar, a three-day industry conference held annually to discuss the future of music, was that competition — Apple’s entry, in specific — is a good thing for streaming.”
“But it’s more than just good, according to Tom Silverman, the founder of the New Music Seminar and CEO of Tommy Boy Entertainment, a record label established in 1981 representing Coolio and Method Man,” Booton reports. “He said Apple has the potential to triple the growth of streaming if it can convert 200 million free-trial sign-ups into subscribers, which would roughly match the conversion rate of Sirius XM Holdings.”
Read more in the full article here.
MacDailyNews Take: Apple Music is coming. After June both, the music industry will be forever changed.
SEE ALSO:
Apple Music signs 20,000 labels and distributors worldwide – June 24, 2015
Apple and ‘boneheaded’ decisions – June 23, 2015
Metallica’s Lars Ulrich backs Apple Music after its Taylor Swift moment – June 23, 2015
How Taylor Swift became music’s most powerful voice – June 23, 2015
Apple Music to pay rights holders on a per-stream basis during three-month free trial – June 22, 2015
Taylor Swift wins streaming battle as Apple backs down on royalty payments – June 22, 2015
Apple responds to Taylor Swift, indie label complaints; will pay royalties during Apple Music 3-month free trial – June 22, 2015
It’s the music, stupid.
I’m old, but I still try to listen to “new” stuff. If I end up liking any of it it is usually only 1 or 2 songs from someone. Never whole albums or collections.
With you Bob.
Good music will ‘revive’ the industry.
The well ran dry in the 1990s. Not only is a renaissance unlikely but as Ian Anderson said in an interview with Rick Wakeman not too long ago, it is altogether unreasonable for us to expect one.
Oh man that’s depressing…
I think there are good artists today selling music. You may not like them but they are selling songs.
Taylor Swift sold 3 albums with each selling over a million within a week. A record.
—- but she is a wossie girl singing pop. OMG. That just does not count. !!!
She FILLS 50,000 people stadiums again and again!!! She has an estimated 70,000,000 fans. Like Apple, she must be a fail! /s
Just saying.
“Like Apple, she must be a fail.” LOL
Another common reaction to Apple, or to Taylor Swift, or to magnetic teapots or any other newfangled thing that vexes us, is to identify it as nothing more than a craze. Crass marketing juju, like a malicious pied piper, mesmerizes large numbers of people. They are transformed into sheep—rendered helpless by a reality distortion field; robbed of their critical faculties; made stupid, like liberals.
And that is the reason our missionary friends (whom we uncharitably label as trolls) are dispatched from monasteries in Mountain View, Redmond, and Seoul to spend time with us here, as helpmates in our long journey back to cold hard reality. Which is whatever they claim it is.
Most likely I stop paying for Pandora and Spotify once Apple music is out.
You Pay for both?
Anyone else notice that the iTunes Weekly Top 50 radio stations are gone?
“…competition — Apple’s entry, in specific — is a good thing for streaming.”
Hmm, I’m not sure there is going to be any competition left once Apple Music enters the fray. I’m still amazed that the labels don’t do this stuff on their own or buy Spotify to do it for them. They are already ticked that Apple has become the largest retailer of online music, now Apple is set to become the largest streaming company.
The labels haven’t learned one of the most important lessons of Steve Jobs: Don’t let a third party control any of your strategic assets. That’s a HUGE reason why after Jobs came back to Apple that we were blessed with Final Cut, iLife, iWorks, Safari, Apple retail, iTunes, iTunes Media store, etc.
Right now the labels are handing Apple the keys to their kingdom. In a year, they will be whining that Apple has too much power and control over their crown jewels.
Ironically, if Apple Music is really successful it might be a financial windfall for the labels but they will also find themselves in an Apple headlock.
Again 👍🏼