dent in the market.
Beats brings its own streaming service, as well as co-founders Dr. Dre and Jimmy Iovine. Yahoo Finance Tech Reporter Aaron Pressman says the subscription service is a key piece of this deal. “iTunes is a mess,” says Pressman. “iTunes Radio – it has a lot of users – but financially, it’s done nothing; it hasn’t driven any music sales at all.”
Pressman believes Apple needs Beats to be relevant again. “Beats is something that’s coming out of a much cooler, more in-tune-with-young-people place,” he says. “Once you get Apple’s power behind that, that’s a good way to get them stepped-up into the music business as it is now, today, where kids are listening to streaming music more.”
Bad news for Pandora and Spotify
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Related: Pandora Media Inc(NYSE:P),