Apple Focusing on Music Streaming Service

Published By : 08 Jun 2015 | Published By : QYRESEARCH

In 2003, technology giant Apple changed the way music lovers listened to their favorite songs. Its iTunes replaced the plastic discs with digital downloads. Now, Apple wants to lead the path with its new, paid-streaming music service, to be launched this summer. Industry analysts mentioned that Apple has been working to launch its own service after it observed the listeners tuning to music streaming websites such as Spotify and Pandora. The move is being termed as Apple’s efforts to win back some of its customer base and push the iTunes users to listen to its paid-streaming music service.  

The technology giant is expected to announce its new service at its annual conference for software developers which will start this week in San Francisco. CEO Tim Cook along with other executives are expected to talk about the new features in Apple’s OS for iPhones, iPads, and Macintosh computers. Discussions on advancements in Apple’s mobile payment service, Apple Pay and tools for developing new apps for Apple Watch are also expected. 

According to the analysts, Apple needs to build a strong music streaming business if it aims to maintain its leading role in the popular-music ecosystem. Sales through iTunes have declined and streaming services are rapidly gaining the market share. According to the data revealed by the International Federation of the Phonographic Industry, around 41 million people worldwide pay for various streaming services such as Deezer and Spotify. Though Apple has declined to comment, a person close to the matter has mentioned that the technology giant plans to sign up 100 million subscribers for its streaming service which will cost US$10 per month. 
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