Apple Music continues to grow, Billboard reporting that it has now hit 30M paid subscribers - up from 27M in June. But Jimmy Iovine, who heads up the service, thinks what Apple is offering to subscribers isn’t yet good enough.
"I don't believe that what exists right now is enough. Just because we're adding millions of subscribers and the old catalog numbers are going up, that's not the trick. I believe we're in the right place, we have the right people and the right attitude to not settle for what exists right now," he said. Goldman Sachs issued a report in August predicting that -subscription streaming would drive the global record business to nearly triple to $41 billion by 2030.
But [Iovine says] the report "just doesn't work for me." The forecast, he claims, fails to properly account for the easy money that older catalog music currently pulls in, not to mention the competition from free platforms like YouTube.
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