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Jimmy Iovine, one of the co-founders of Beats and left Apple after leading Apple Music, talked about how Beats was founded, his experience at Apple, and music streaming services. He spoke in an interview with the York Times. Iowin was originally Chairman of Interscope-Geffin-A & M Records and was at the core of the existing music industry. The reason why it was involved in the startup Beats and music streaming is that it goes back 20 years.
It all started with the emergence of Napster, a music sharing service using P2P technology, and software in the late 90's. He realized he needed to switch gears to see how powerful the technology was, and said he recognized that "record companies can't survive without technology."
At that time, Iovine met Steve Jobs, one of Apple's founders, and Eddie Kew, the current senior vice president of software and services (later Iovin's boss). "Oh, here (the high-tech industry) is where I have my place. It is necessary to incorporate this idea into Interscope."
Iovine learns a lot through the artists he works with, citing one of them as Beats co-founder Dr. Dre. "Dore is an audio perfectionist, and probably one of the best audio producers ever, and he was concerned that his children would be able to get through cheap and inefficient equipment that all generations would have Listening to music and learning audio, it was the beginning of Beats. "
Meanwhile, Jobs, who was present at the Greek restaurant with Iovin, was also hearing the knowledge needed to make its own hardware. It is recalled that he used oil-based pens on paper saying "Distribute here, manufacture here".
Eventually Beats was acquired by Apple in 2014, Iovin and Dore have both joined Apple. Beats owned the headphone and audio technology Beats Electronics and the music streaming service Beats Music, all of which are under Apple umbrella.
Iovin was then in charge of Apple Music, essentially the Beats Music prototype, leading Apple's music streaming service, and “ need to protect the artist '' against free plans offered by competing Spotify and others. AsI have also disputed.
After spending four years improving Apple Music and the streaming radio service Beats 1, he left Apple in 2018. Iowin explained the reason: "When I joined Apple, they were fresh and creative challenges for me. How to open up the future of the music business and how to make it unusual? I did everything I wanted to do and someone else should do it, "he said, saying it was time to move on to the next path.
Iovin, who raised Apple Music as one of the music streaming services, says he is uncertain about the future of the industry. The biggest problem is "do not scale", that is, the cost does not decrease as the scale increases. "Netflix costs less when there are more subscribers, but music streaming costs more."
He further points out that the core problem of music streaming services is the "utility" (tool). In other words, if it is a video distribution service, "Disney (Disney +) has original content that can only be seen there, and there are a lot of exclusive distribution on Netflix, but all music streaming services are the same, that is the problem" It basically describes the pain that cannot be differentiated by the selection of contents and is merely a path.
The other dayStreaming has reached 80% of U.S. music salesHowever, if you flip it over, there is less room to cut out of the existing music market, which may lead to the possibility of limited growth. For stores"Apple Music for Business"Is being tested, and it may be a search for the next move.
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