Spotify has manage to stay ahead of the streaming music race for some time now, but that might all change thanks to Apple Music. Recently announced at the Worldwide Developers Conference (WWDC), Apple Music will not only be a streaming music service, but also combine it with music downloads and streaming radio in a single app.
Competitively priced at $9.99 for individuals and $14.99 for a family of up to six, Apple Music will launch at the end of this month and include an exciting incentive -- Drake's new album. Apple CEO Tim Cook says, "We’ve had a long relationship with music. And music has had a rich history of change, some of which we’ve played a part in." At its core, Apple Music hopes to stand out in terms of features and exclusive content.
Why This Trend Is Growing
- Streaming Consolidation Trend
- The trend is for streaming services to consolidate music downloads and streaming radio into one app like Apple Music.
- Exclusive Content Trend
- The trend is for streaming services to offer unique and exclusive content like Apple Music's exclusive access to Drake's new album.
- Competitive Pricing Trend
- The trend is for streaming services to be priced competitively like Apple Music's $9.99 for individuals and $14.99 for families of up to six.
Industries Being Reshaped
- Music Streaming Industry
- Innovation opportunities within the music streaming industry include consolidating features into a single app, offering exclusive content, and pricing competitively.
- Music Production Industry
- The music production industry can take advantage of the exclusive content trend by partnering with streaming services to offer new releases and exclusive content.
- Technology Industry
- The technology industry can benefit from the trend of continuing to advance streaming services by innovating new features like consolidating downloads and streaming radio as seen in Apple Music.
