Apple is now preparing to take on a company that already boasts 20 million paid subscribers.
And while you might expect the world’s most valuable company to simply get their way, you might soon be surprised. But if everything goes according to plan, Apple will have added another big gun to its arsenal.
So should we go all in on Apple’s newest technology endeavor? Let’s find out…
The Apple universe has just expanded. The Apple Watch now looks like ancient history as the company is now focusing a great deal of resources on streaming music.
That’s right, Apple could now be one of the major players in the revival of the music industry after it was such a big part of destroying album sales with the innovation of iTunes, etc.
In fact, that part of the music world is almost certainly never going to return to it’s heights…
In 1999, U.S. music sales hit $21 billion. Only very recently, that figure has finally been able to stabilize at around $7 billion per year.
So does that leave room for streaming music to pick up the slack (and profits)?
There’s certainly a market for it, and the medium seems to be in a constant state of change and uncertainty.
But even if that does mean streaming music will be the next big moneymaker in technology, is there room for Apple to bully its way into the profit party?
We’ve already witnessed one “hiccup” with Apples new music streaming…
After putting into place a policy that stated artists would not be paid during the service’s 3-month free trial period, a strong negative response from singer Taylor Swift actually got Apple to change course.
Artists will now be paid even for that beginning period, and that could set Apple back $100 million or more.
So will Apple be able to overtake the likes of Spotify, the private music streaming company that’s been able to take hold of the industry?
Let’s just say it wouldn’t be the first time that a big name in music streaming has been surpassed. Pandora, one of the first big music streamers, is down 45% in the past year thanks to the likes of Spotify.
The interest thing to note here is that the subtle differences between what the different companies offer to subscribers seems to make or break them.
That’s why I’m looking for a couple of things among the music streamers:
1. A sweet spot in price.
2. Music universe available.
3. Unique benefits or capabilities.
I don’t think we’re anywhere near a finished product for the eventual winner of the music streaming war. And that means YOU have a chance to ride the winner to profits if you can recognize the winning formula while it’s being created…
