Apple’s digital music sales according to The Wall Street Journal has declined by 14 percent this year. This may be due to the competition from the likes of Spotify, Pandora and other music streaming services.
Apple may need to conjure up a back up plan with the newly acquired Beats Music. And this might just be the case. A report by the International Federation of the Phonographic Industry, which says there’s been a noticeable increase in revenue from ad-supported and subscription streaming services.
If Apple rebranded the Beats service in the near future and offer low subscriptions as rumor have been saying, it might just have the chance to take on the competition and bring revenue up to where it once was.
According to the Wall Street Journal, Apple will be relaunching Beats as part of iTunes next year to integrate its curation features. With the vast library in iTunes and Apple working on getting monthly subscription as low as USD$4.99 a month, the Cupertino company may just have a dynamite money making solution in its hands!