Apple Music Executive Talks about Doing Away with Album Exclusives
In a recent interview with Music Business Worldwide, Apple executive Jimmy Iovine discussed the company’s plan to move away from album exclusives. Apparently record labels aren’t huge fans of album exclusives because it lowers streaming levels across all platforms. Since the content is their property in the first place, Apple is pretty inclined to comply.
Since its launch in 2015, album exclusives have been a key selling point for subscribers of Apple Music. From Drake’s “Views” to Chance the Rapper’s “Coloring Book”, Apple Music has raked in the big bucks by making chart-topping albums only available through their services. Their biggest competitor, Spotify spoke on the issue by saying these album exclusives were “not good for the artist”.
Starting last year, Universal Records made an announcement that they would no longer be giving streaming services album exclusive privileges. With album exclusives becoming extinct, what makes the different streaming services stand out? Why should people pay a monthly subscription fee for Apple Music anymore? Iovine explains
“The fact is that ‘free’ in music streaming is so technically good and ubiquitous that it’s stunting the growth of paid streaming”.
He continues by saying that “Two things have to happen: free has to become more difficult or restricted, and the paid services have to get better”.
Nothing has been said yet about the future of Apple Music, but it looks like they’re going to need a new way to keep pulling subscribers in. Any ideas?
Photo courtesy of Vulture