Apple are set to announce the launch of their new music streaming service later today, Monday (June 8).The launch was confirmed by Sony Music CEO Doug Morris yesterday (June 7) at the Midem Music Industry Festival in Cannes, during an interview.
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Tech giants to launch music streaming service today
Apple are expected to announce the new streaming service at their World Wide Developers Conference, which begins in San Francisco today.
Apple plan to rival other streaming platforms including Spotify and Jay Z's Tidal
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According to a report by Venture Beat, Morris disclosed to the Midem crowd that he expected the Spotify rival to represent a "tipping point" that was likely to accelerate a shift toward streaming in people’s listening habits."What does Apple bring to this?" Morris said. "Well, they’ve got $178 billion dollars in the bank. And they have 800 million credit cards in iTunes. 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."Apple are expected to announce the new streaming service at their World Wide Developers Conference, which begins in San Francisco today.The new service has been created with Beats Music, following the company’s acquisition of Beats last year. Beats were acquired by Apple in a $3bn deal, with the two companies joining forces to develop a product to rival music-streaming giant Spotify as well as Jay Z's Tidal. According to multiple reports, Apple and Beats have been after multiple exclusives for the launch. Following rumours circling Taylor Swift and Florence + The Machine, reports from Buzzfeed claim Apple have been "aggressively pursuing" an exclusive stream of Kanye West’s new album,which will tentatively be titled 'Swish'.
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