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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Apple’s New Music Streaming Service Is Here

The long wait is over; Apple will be unveiling their new music streaming service partnered with Sony Music at their World Wide Developers Conference (WWDC).

“It’s happening tomorrow,” said Sony’s CEO Doug Morris in an interview at the Midem conference in Cannes the day before the conference, Sunday May 7th.

Morris and the head of Apple’s music services, Jimmy Lovine, have worked daily on their new project. Morris says that they talk on the phone twice a day, even to today; he believes Lovine is a brilliant asset to the Apple company.

 

morris-midem-venturebeat

Sony CEO Doug Morris (right) being interviewed at Midem music and technology conference in Cannes.

via VentureBeat/Chris O’Brian

The Apple company has closely examined the change in the way people choose to listen to music. Digital music downloads have greatly decreased in the past decades as more people are preferring to stream their music

So far, the rumors say the fee to use Apple’s music streaming is $9.99 per month, the average price compared to most other streaming services. Top D.J.’s and musicians are said to be featured on the service.

While Morris did not reveal anything on the rumors, he did mention the importance of money being the reason for entering the partnership.

“What does Apple bring to this?” he said. “Well, they’ve got $178 billion dollars in the bank. And they have 800 million credit cards in iTunes.”

He goes on to describe why he believes this will be a bigger success than other streaming services

“Spotify has never really advertised because it’s never been profitable. My guess is that Apple will promote this like crazy and I think that will have a halo effect on the streaming business. A rising tide will lift all boats. It’s the beginning of an amazing moment for our industry.”

The official features and other news about Apple’s new music streaming service will be announced at their WWDC, Monday June 8th.

 


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