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.
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