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What does Apple Music Mean for the Music Industry?

“iPad and iPhone” by Sean MacEntee is licensed under CC BY 2.0

iPad and iPhone” by Sean MacEntee is licensed under CC BY 2.0

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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