Apple Music boss Jimmy Iovine says streaming services need to diversify to stay alive
- "The streaming services are all charging $9.99 and everyone has the same music," he told the British broadcaster in an interview published Sunday.
- He indicated that Apple Music wanted more original content and cited Netflix as an example, which spent roughly $6 billion on its own shows in 2017.
Music streaming services are too similar and need to have more original content, Apple Music executive Jimmy Iovine told the BBC.
"The streaming services are all charging $9.99 and everyone has the same music," he told the British broadcaster in an interview published Sunday.
"And it's really nice. You get whatever song you want, you get your playlists — but there's got to be more interaction between the artist and the audience ... Sooner or later, something's got to give," he added.
He indicated that Apple Music wanted more original content and cited Netflix as an example, which spent roughly $6 billion on its own shows and movies in 2017.
Iovine also told the BBC it was inevitable that Apple would phase out the iTunes download store, as streaming services surpass the older digital format. Apple has previously denied rumors that the download service was ending next year. "If I'm honest, it's when people stop buying," Iovine said. "It's very simple."
Read the full interview on the BBC's website here.