Analysts, and even competitors, expect Apple's iTunes Radio will be good for the industry

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Issue Date: 
Jun 11 2013 - 12:30pm

From Issue:

We're certainly seeing lots of coverage and reaction to yesterday's unveiling of Apple's new iTunes Radio. You've probably come across a bunch yourself, but we wanted to steer you towards a few interesting pieces:

  • Forbes' take is iTunes Radio will usher in positive expansion and growth for the record industry and Internet radio alike: Increased industry revenue; "mass acceptance" of music streaming; enhanced music discovery; and increased artist/songwriter royalties. Read the details in Forbes here.
     
  • Music Industry Blog says while it's true Apple has probably taken the "conservative me-too strategic option rather than bringing new transformative innovation," the new service should be seen (mostly) as a way to sell iPads and iPhones. Once all our data is in the cloud, the blog argues, device storage capability isn't as important, and device prices will fall, thus Apple's slow approach. Read more here.
     
  • A New Music Seminar panel in New York on Monday (which featured RAIN publisher Kurt Hanson, see more in today's issue here) featured several execs from companies who now find themselves in direct competition with Apple. Representatives of Pandora, Clear Channel, Spotify, and others welcomed Apple's entry as a validation of their own businesses, according to Billboard. Read more here.
     
  • Similarly, Pandora issued a statement yesterday about iTunes Radio, saying it brings Apple "on par with other streaming music services that have added radio into their feature sets." Pandora pointed to its 13-year history with Internet radio as a focus, not a feature. Slacker CEO Jim Cady pointed out Apple's closed ecosystem, saying "Walled gardens don’t benefit listeners and Slacker believes in the importance of giving users true freedom to access their content." Read more in Hypebot here and here.

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