Apple Music is the latest and greatest to enter a crowded space: the streaming music market. Like the other big new competitor, Tidal, Apple Music is only going to offer paid subscriptions, instead of ad-sponsored free music.
But why? Why is any company even bothering to enter this space?
There is no streaming music market. Period. Really, there’s no proof that people are wiling to pay for digital music at all.
Last week, Thom Yorke of Radiohead caused something of an uproar when he proclaimed that he was pulling his music (or at least the stuff he held the rights to) from the online streaming service, Spotify.
He wasn’t worried for himself, really, but for the bands and musicians looking to sell their stuff and promote their stuff and generally make a living by making music, arguing “[it] cannot work as a way of supporting new artists’ work.”
Why? Well, because Spotify pays 0.4 pence per stream… in the US, artists get paid $0.0018 cents per stream.
And the horror stories continue…