Welp, the highly competitive streaming market just got even tougher and more diluted. As VentureBeat reports, Sony Music CEO Doug Morris confirmed in an interview at Midem in Cannes that Apple will be launching their new streaming service tomorrow Monday, June 8th at its World Wide Developers Conference.
Morris seemed very excited about the Apple launch, even referring it to the “tipping point” that would help shift the content towards streaming.
“What does Apple bring to this? 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.”
Morris is also said:
“A rising tide will lift all boats,” he said. “It’s the beginning of an amazing moment for our industry.”
