Apple Inc. (NASDAQ:AAPL) is gearing up for the biggest battle of its life in the music arena with a string of exclusive deals as it moves to ramp up support for Beats upcoming music streaming offering. Daily Mail reports that the iPhone maker has approached more than a dozen musicians in a bid to get their music streamed exclusively on Beats.
Apple Inc. (NASDAQ:AAPL) may be playing catch up in the music streaming business, but its threat in the space cannot go unnoticed considering the amount of money it has that it can use to sign exclusive deals with artists. The acquisition of Beats for $3 billion was just an indication of how far the company is willing to go to make its presence felt in the music space.
Some of the big artists that the iPhone maker has approached for exclusive deals include Taylor Swift and Florence and the Machine. Jay Z’s Tidal is the rival that stands in the way of Beats dominating the music arena in the streaming business. Gone are the days when Spotify used to be the talking point in the streaming business as more services backed by big tech companies come into play. Tidal has on its ranks the likes of Beyoncé Nicki Minaj and Rihanna awaiting to see the list that will be available on Apple Inc. (NASDAQ:AAPL)’s Beats.
Jay-Z is in a race against time just like Apple trying to convince artists to sign exclusive deals with his streaming service Tidal as one of the ways of fending off imminent competition in the space. Tidal is co-owned by Madonna Rihanna Beyoncé and Jay-Z. Apple Inc. (NASDAQ:AAPL) plans to re-launch a rejuvenated Beats in the coming months with sources saying the subscription service will go for $9.99 a month with the family plan on offer for $14.99.
Apple Inc. (NASDAQ:AAPL) deep pockets and market reach means record companies have a lot to do, in negotiating for distribution rights which also gives them the power to ask for favorable deals. The wave of uncertainty in the streaming business is likely to get worse in the coming months as different parties try to negotiate for better deals that suit their needs. However, none of this shows that streaming of music is going to stagnate in terms of growth.
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