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...This is the first time in the streaming era that Universal has gone as far as removing its music from a tech company’s platform....
...It is one of the most significant financial penalties levied by the EU on big tech companies....
...Apple last month told music companies that it would pay up to 10 per cent more in royalties for songs produced in spatial audio....
...Many of the businesses now underwrite their own debt deals, lending either directly to companies or against a host of assets....
...Next month, the EU is also set to impose its first fine — which people familiar with the matter suggest will be in the region of €500mn — for allegedly breaking EU law over access to its music streaming...
...For Google, creating a music product could help the company compete with rivals such as Microsoft, which has invested $10bn in leading AI company OpenAI, owner of the market-leading AI model known as GPT...
...An unwinding of the deal that created the company no longer looks far-fetched....
...Universal Music is the largest record company, controlling about a third of the world’s music....
...Warner Music, the third-largest record company, last year announced it had struck a new deal with TikTok....
...The commission began its investigation into Apple in 2019 after music streaming app Spotify launched a complaint accusing the company of anti-competitive behaviour....
...At first glance, the €1.8bn fine for stifling competition in music streaming is not a lethal problem for the company....
...Companies such as BMW and Ford enable cars to sync to smartphones, allowing drivers to play music or unlock their vehicle. Eventually, that could extend to autonomous driving controls too....
...In Europe, the competition authorities have fined the company €1.8bn for suppressing competition from rival music streaming services on its platform....
...The moves come after the commission hit Apple with a €1.8bn fine for preventing music streaming apps such as Spotify from informing users about cheaper deals....
...Amazon, Microsoft, Meta, Google parent Alphabet and music streaming service Spotify are among the companies that have signalled plans to strike such a balance this year....
...The show’s theme song is by Metaphor Music....
...The European Union plans to hit Apple with a €500mn fine over music streaming, German companies make record investments in the US, and emerging market investors switch to ETFs that exclude China....
...And in recent years, the securitisation market has become a welcoming home to deals backed by everything from music rights to software companies’ private credit loans....
...Smartphone companies will not hand this market to newcomers....
...Apple already sells TV and music streaming, cloud storage, gaming, payments, advertising, etc. What worlds are left to conquer?...
...Today’s moves come a few weeks after the EU fined Apple more than €1.8bn for stifling competition from rival music streaming services in a long-running case dating from 2021....
...EU antitrust regulators fined Apple €1.8bn earlier this month over “steering” policies that prevent rival music streaming apps such as Spotify from directing customers outside of its App Store to make payments...
...When he first showed off the iPhone, Jobs pitched it as the perfect device for three things: making phone calls, browsing the web and listening to music: an App Store did not figure in the equation....
...Services revenue — which includes its App Store, Apple Pay, and TV and music streaming — has been a continuing success story and an increasingly important source of growth for the company as its hardware...
...The company has crafted just about every truly memorable Nike campaign since, while also making ads for Coca-Cola, Procter & Gamble and Microsoft — companies that came to W+K for ideas and panache rather...
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