Apple is looking to nurture the relationship with music

The late Steve Jobs is widely credited with launching music into a digital future with the invention of the iPod and the iTunes store. Now his successor, Tim Cook, is seeking to grow Apple’s influence in music through one of the oldest forms of listening: terrestrial radio. Apple’s discussions about a potential deal with US radio group iHeartMedia… underscore how the iPhone maker is looking to nurture the close relationship with the music industry that Jobs fostered. Music executives say that after a late entrance to music streaming in 2015, the tech group has been gaining confidence and ratcheting up its efforts to grow Apple Music. The number of subscribers has grown to 56 million, up from 50 million in May, and Apple recently overtook Spotify to become the top music streaming service in the US, the world’s biggest music market by revenues… Since kick starting its streaming efforts with the purchase of Beats, the headphone and music app maker, in 2014 for $3 billion, Apple has continued to ramp up its offering through acquisitions. In September this year, it purchased Shazam, the music recognition start-up, for $400 million. It also spent tens of millions of dollars to hire the founders of Asaii, a music analytics company, in October.

Anna Nicolaou and Tim Bradshaw