“Apple’s iTunes helped change the way music-lovers bought their favorite songs, replacing plastic discs with digital downloads,” Brandon Bailey and Ryan Nakashima report for The Associated Press. “Now the maker of iPods and iPhones wants to carve out a leading role in a revolution well underway, with a new, paid streaming-music service set to launch this summer.”
“Apple is expected to announce the service at its annual conference for software developers, which kicks off Monday in San Francisco,” Bailey and Nakashima report “About 41 million people globally now pay for streaming music from Spotify, Deezer and other outlets, according to the International Federation of the Phonographic Industry, which says subscription revenue grew 39 percent last year to $1.6 billion. Overall download sales fell 8 percent to $3.6 billion.”
“While Apple wouldn’t comment last week, a person familiar with its plans said Apple has an ambitious goal to sign up 100 million subscribers for a new streaming service that will cost $10 a month,” Bailey and Nakashima report “Beats users will be migrated over before eventually closing down, and buyers of songs and albums on iTunes will also be presented with the option to purchase a subscription instead.”
Read more in the full article here.
MacDailyNews Take: 100 million by when? The first year? Regardless, Apple Music is going to be a lot more successful at landing subscribers than most observers currently realize. Apple is going to save the music industry – again.
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