Sony Music CEO Doug Morris (right), being interviewed at the Midem music and technology conference in Cannes.
Image Credit: VentureBeat/Chris O'Brien
Apple will launch a music streaming service tomorrow at the WWDC 2015 Monday June 8 event said SONY Music CEO Doug Morris at the Midem Music Industry Festival in Cannes.
The service is expected to be priced around the industry standard of $9.99 per month and include lots of curation by popular DJs and musicians to help consumers discover new music.
“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.
“A rising tide will lift all boats,” he added. “It’s the beginning of an amazing moment for our industry.”
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