08/11/2014 - 1:00 pm
08/11/2014 - 5:00 pm
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On Wednesday evening, Apple executive Eddy Cue and Beats CEO Jimmy Iovine sat for an interview on stage at the Code Conference in Southern California. Cue said Apple bought Beats because “music is dying. It hasn’t been growing.” He said combining the two companies will help it grow again.
Cue said that the number of new releases on iTunes this past year are the smallest the company has ever seen, and that the growth in the number of songs sold through iTunes has “leveled off.”
He said that Beats has a great subscription music service and that Apple can make it a big business because it has a lot of customers, knows what those customers listen to, and has an easy way for them to pay for things. Cue said what makes Beats good is that it provides users with curated playlists.