Can Apple Music Compete With Other Music Streaming Giants?
by Kaitlin Coons
More than a decade ago, Apple changed the face of the music industry by releasing the iPod. By pioneering the face of digital music, Apple was able to get on the frontend of what has become the modern consumption of music. Since then, things have swung the other direction for Apple from a downloaded media perspective. While Apples continues to be the strongest competitor from a hardware standpoint, it has recently been losing the race with its iTunes digital downloads.
On June 8, 2015, Apple announced that it would release a new music streaming service that doubles as a social network. Now, the product has been on the market for a few weeks. Sources have even indicated that Apple plans to file new patents related to music products. These patents include payment processing for digital media downloads. Reviews on the new service have been a mixed bag. Some users have complained about bugs and hiccups, while others have appreciated the seamless integration into other Apple products. With the iPhone, iPad, and computer products, Apple seems to have a strategic advantage over other streaming products in terms of software,
Can Apple come back and dominate the music industry once again? Will they push Pandora, Spotify and other competitors out of the market? It’s likely too soon to tell. If your business is seeking to enter into a new market and would like to discuss strategic options, contact a Clements & Shackle attorney to set up an appointment.