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Related Special Reports
...It will ban Apple’s practice of blocking music services from letting users outside its App Store switch to cheaper alternatives....
...Apple declined to comment. Apple introduced spatial audio to its music streaming service in 2021, at no additional cost to subscribers. Amazon’s music service also offers spatial audio....
...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...
...Big music companies earn billions of dollars a year through royalty payments from streaming service and social media platform operators including Spotify, Apple and Meta....
...EU regulators found that Apple’s actions had resulted in users paying “significantly higher prices” for music streaming services....
...“Don’t think about tomorrow, forget about your sorrow,” the five women of Red Velvet chorus in English....
...Brussels has fined Apple more than €1.8bn for stifling competition from rival music streaming services, the first time it has been punished for breaching EU law....
...[MUSIC PLAYING]...
...[MUSIC PLAYING] The US Department of Justice sued Apple yesterday. It accused the company of building a smartphone market monopoly....
...Apple can argue that its own music service does not dominate the market. The problem is that the EU fine does not mean the end of Apple’s regulatory battle....
...And a little off-centre — just behind those at labels or in publishing, or at Spotify or Apple Music — are the bankers and the finance people lending and securitising these portfolios....
...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....
...Less Sex (Graphs About Religion) — Bring back private offices (Life Since the Baby Boom) — Behind F1’s velvet curtain (Road and Track, via Archive.org for reasons) — Scotrail announcements over lofi...
...Apple already sells TV and music streaming, cloud storage, gaming, payments, advertising, etc. What worlds are left to conquer?...
...The war on Apple is indeed multi-front. In Europe, the competition authorities have fined the company €1.8bn for suppressing competition from rival music streaming services on its platform....
...The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...But this is not an apples-to-apples comparison. KKR stuffed Chord with additional music it had bought in the past few years — such as a majority stake in Ryan Tedder’s catalogue for a reported $200mn....
...Spotify, Apple and Amazon have made the music business the most wealthy it’s been in 25 years.”...
...But watching tech companies swallow the music industry has given them a valuable perspective....
...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....
...The big music companies earn billions of dollars a year through royalty payments from streaming services and social media sites including Spotify, Apple and Meta....
...When it listed in 2021, Believe thought it would capitalise on investors’ renewed enthusiasm for the music industry as streaming platforms such as Spotify and Apple Music gained traction....
...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...
...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...
...Big music companies earn billions of dollars a year through royalty payments from streaming services and social media groups including Spotify, Apple and Meta....
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