Apple Set To Roll Out Streaming Service At $10/Monthly
June 1, 2015 at 1:35 PM (PT)
After much backroom maneuvering by JIMMY IOVINE, APPLE is expected to launch its new, revamped streaming service at its WORLDWIDE DEVELOPERS CONFERENCE JUNE 8th-12th at the MOSCONE CENTER in SAN FRANCISCO. SEEKING ALPHA reports that it will be priced at $10 a month, on par with SPOTIFY and similar online rivals. It was previously reported that APPLE was hoping to undercut rivals, potentially by charging $8/month, while industry titans like SONY's DOUG MORRIS and UMG's LUCIAN GRAINGE fought to eliminate the so-called freemium, ad-supported model favored by SPOTIFY.
A 9to5 MAC report said the service would be offered through both the iOS MUSIC app and, for the first time, a standalone ANDROID app developed by APPLE.
The company also plans to update its iTUNES RADIO service to include "channels programmed and hosted by human DJs." The service is currently available either on a free/ad-supported basis, or for $25/year ad-free via iTUNES MATCH. Rival PANDORA stock has dropped 2% in response to the announcement.
APPLE reportedly still hasn't reached licensing deals for the subscription service with UNIVERSAL MUSIC GROUP, SONY ENTERTAINMENT or WARNER MUSIC GROUP, though the WALL STREET JOURNAL adds "many in the music industry expect such deals soon."