Tag Archives: Jimmy Iovine

Industry insider says free music streaming from Spotify, YouTube and more may soon vanish

“Here’s the skinny… Jimmy Iovine and the major labels are conspiring to get rid of free,” music industry insider and critic Bob Lefsetz wrote in a newsletter late on Sunday. “Not only the free tier on Spotify, but YouTube too. Apple Inc. writes a check to the labels on 40 million subscribers for years, whether they reach that number or not, and everybody pays for music.” – Zach Epstein, BGR

Jimmy Iovine gets pushback over Beats Music streaming plan

[Jimmy Iovine], who earlier this year sold the popular Beats headphones brand along with its sister music service to Apple for $3 billion, is attempting to steer the industry away from free streaming services in favor of lower-priced paid subscriptions, sources said. Iovine is getting plenty of pushback, however. […] Iovine — like other long-time recording execs — is no fan of Spotify, Pandora and other free ad-supported services that dominate the industry. While they are fast-growing, the money they generate for the labels is still a trickle. […] Although Pandora and Spotify pay just fractions of pennies to the labels each time a song is streamed, they represent the only area of growth in an industry plagued by piracy and slumping sales. What’s more, they share a cut of the ad revenue with the labels. – Claire Atkinson, New York Post  
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