BillBoard: “Apple Doesn’t Want to Compete — It Wants to Own the Record Business”

Photo by Justin Sullivan/Getty Images

According to a new report from Billboardbiz, Apple is not looking to place catch up with the likes of Pandora and Spotify in the music streaming business, the company wants to be the “music business”:

But a source familiar with the talks says the tech giant, which reported first-quarter revenue of $74.6 billion on Jan. 27, has its sights set on more than just streaming. Apple’s presence in the music business, says the insider, “is to be the music business; it’s not to compete with Spotify.” The proof is in the 800 million credit cards it already has on file — comparably, Spotify has 15 million subscriptions and 60 million monthly users, although the service is growing, headed to an initial public offering.

In fact, integration has begun. Apple TV features a Beats logo, an update to Apple’s iOS will include streaming and creative is in the works for new ads starring artists recruited by Iovine. But that may be the extent of Beats’ involvement as Kondrk takes the lead on music. Like the Apple-centric design of its offices, the look and feel of Beats is likely to mirror Apple’s aesthetic, not the other way around.

Source

Image Credit: Billboard

Posted by | Posted at February 14, 2015 20:18 |
Storm is a technology enthusiast, who resides in the UK. He enjoys reading and writing about technology.

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