“Apple Inc. boss Steve Jobs was a no-show at an annual pow-wow of media and technology moguls in Sun Valley. But he was far from forgotten,” Alexei Oreskovic and Paul Thomasch report for Reuters. “At a conference graced by such luminaries as Warren Buffett and Bill Gates, Jobs and the consumer electronics titan he co-founded were on the lips of the assembled media and tech chieftains alternately wary of and excited by Apple’s growing sway over the industry.”
“Apple’s increasing role in media distribution from music to books, its aspirations in advertising and hit products like the iPad have made the company one of the most influential players in an industry struggling to adapt to the Internet age,” Oreskovic and Thomasch report.
“For movie studios, publishers and music labels, Apple represents promising new ways to reach consumers as well as a potentially threatening shift in a balance of power that has traditionally favored the creators of content,” Oreskovic and Thomasch report. “‘It’s hard not to be aware of them,’ said one senior media executive on the sideline of the conference, hosted by boutique investment bank Allen & Co. ‘Apple wants to sell devices. For them, the higher the quality, and the lower the cost of the content, the better.'”
Oreskovic and Thomasch report, “With a market capitalization of $235 billion, Apple recently surpassed Microsoft Corp. to claim the title of world’s most valuable technology company.”
“Apple seems to be everywhere these days. It ranks as the top U.S. music retailer thanks to its iTunes online music store. Its catalog of more than 200,000 App Store applications for the iPhone and iPad offers an opportunity to play a similar role in newfangled entertainment and gaming products,” Oreskovic and Thomasch report. “And with the new iPad tablet, Apple is moving into the electronic book market, competing with Amazon.com Inc. and Barnes & Noble Inc. as a book distributor.
Read more in the full article here.
[Thanks to MacDailyNews Reader “James W.” for the heads up.]