What does Apple Music mean for the music industry? Apple is hoping that 100 million of their iPhone users will pay $10 a month for Apple Music, their new subscription music service. This would mean $12 billion in profits per year. The global recorded music industry is worth just about $16 billion total, meaning Apple music would make a huge impact. Album and song sales are expected to take a hit, making independent labels and artists unwilling to sign on with Apple Music. Apple Music will be available for a three-month free trial starting June 30th. After the free trial period, Apple will see if they can hit their 100 million-user benchmark and independent artists will have to decide if it’s a worthwhile service to join.
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