Apple Developing Online Music Streaming Service to Rival Spotify - Video - TheStreet

Apple Developing Online Music Streaming Service to Rival Spotify

Apple is overhauling its online music strategy to go head to head with Spotify.
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Apple is overhauling its online music strategy to go head to head with Spotify. The tech giant acquired streaming service and headphones maker Beats for $3 billion last year. Apple now plans to introduce its own music streaming service as well as enhancing its iTunes radio. Nine Inch Nails front man Trent Reznor has been tasked with leading the redesign of the new music service. He was previously chief creative officer for Beats. The New York Times reports that Apple recently failed to persuade record labels to lower their licensing costs. Smaller fees would have allowed Apple to offer its streaming services for $8 per month, undercutting Spotify's prices.