Rumours have been pouring in since quite some time that Apple might soon be coming up with its own version of music streaming service to rival the likes of Spotify and Rdio. Recent reports suggest that Apple’s CEO Tim Cook and Internet Products Chief Eddy Cue met Beats CEO Jimmy Iovine to discuss about a rumoured stealth project at beats, “Project Daisy”. Apple was more keep to know about Project Daisy’s business model and roll out plans.
As of now nothing much has been revealed about Project Daisy but sources claim that Beats in keen on monetizing on its brand. Beats is well known for its celebrity endorsements from artists like Dr. Dre to push its products and Beats want to rely heavily on its brand value and music discovery service.
Interscope, run by Jimmy Iovine, was one of the first music labels to sign up with Apple back in 2001 when Apple announced it music service and iTunes platform. In a recent interview with AllThingsDigital, Jimmy Iovine said that he tried to pitch music subscription service to Steve Jobs way back in 2003 itself but we guess things didn’t work out all too well.
Music labels have been confirming that the piracy rate has been declining steadily ever since music subscription services like Spotify have been gaining momentum. Apple’s intention to begin iTunes back in 2001 was to kill piracy and Apple made huge inroads back then but it is time to evolve further with the popular adaption of music subscription services. Even in countries like India we find various similar services like Saavn and Dhingana gaining momentum.