It didn’t take long after the introduction of the iTunes Music Store and the iPod for Apple to become the most important company in the music industry. But as more people moved into similar spaces and as sales of digital downloads began to decline, that primacy was threatened.
Apple is keenly aware that we’re entering another period of disruption and upheaval when it comes to the distribution and consumption of music. They know that iTunes isn’t forever, especially as we all get more into streaming. So what have they got planned?
From Business Insider:
“Music is free, but delivered via a platform where artists rely on software to monetize the brand (image and personality) through merchandising, advertisements, sponsorships; Artists have access to information on their fans; Artists can set up their own tours including ticket sales, booking venues, and even PR circuits through third-party apps; New talent can transition from discovery to monetization quickly without many barriers; The definition of ‘music artist’ becomes boarder to emphasize a wider range of content creators.”
So in other words, the streaming service would be just one tiny part of what Beats Music would offer. The real meat of it is that it would serve as a hub for artists to manage their entire careers and not just music sales.
Interesting. Let’s follow up here.