Apple ‘s venture into the steaming business is expected to change the dynamics of consumers listening to music as the music industry is cope with the declines downloaded songs and tries innovative ways to get people to pay for music.
Daniel Ives, an analyst with FBR markets said, The Apple brand speaks for itself and it will have an earthquake-like impact on the industry,” he added, “Given the gold standard brand, given Apple’s breadth and awareness, it’s more important what Apple is doing strategically than moving the needle financially.”
However, after offering few surprises which was expected form Apple, but that didn’t affect the shares of the Apple Inc, closed down less than 1 per cent at $127.80
Michael Yoshikami, the chief executive officer of Destination Wealth Management in Walnut Creek, California, said, “The only thing that is going to move Apple stock is iPhone sales and there wasn’t enough news to be a mover in profitability.”
The week-long Worldwide Developers Conference unveiled the services and also announced the OS of the Apple Watch to be upgraded and that the developers are creating a speedier “native” app relies little on the iPhone. The next version of the OS X for its Macs would be “El Captain.”
The company has divulged that the next versions of the Software of iPhones and iPads, iOS 9 will roll out this fall, and has revealed the intension of expanding the Apple Pay that will be launched in UK next Month. Although, the highlight of the show was the music service, during which it introduced along with clips and live appearances of stars like Drake and up-and-comer The Weeknd. Jimmy lovine, the legendary industry figure who acquired Beats, took the stage to unveil the details of the new service.
Apple has also launched new details about its Apple Pay service which received support by more than 2,500 banks and will surpass 1 million locations accepting it next month, along with that Apple would rename Passbook, its app for credit and debit cards and boarding passes, to Wallet
Artists can share songs through the Apple’s music service directly to the fans which includes global 24/7 radio station named Beats 1 and from entire iTunes catalogue, users allowed to stream music. Similar to the streaming services of Spotify, Apple Music streams music from record labels and media companies, Pandora, a self-described personalized radio station el at.
Apple Music’s $9.99-a-month price takes effect after a three-month free subscription period. Up to a family of six can take the offer of “family plan” for $14.99 a month.
Tim Cook, Chief Executive Officer’s first successful new product, the watch will feature a compelling collection of apps. Developers have placed limits on the early apps for the timepiece that is tied to the iPhone. Under those limits developers can improvise the app.
Jan Dawson, an analyst with Jackdaw Research, gave an explanation that apps did not always run smoothly when tethered to the iPhone and this will be a big deal in creating a much more useful set of apps for the Watch and, “Watch apps could feel slow and unresponsive at times.”