Why do companies launch services and products? Obviously it is to make money, but apparently to Apple’s CEO Tim Cook, making money seems to be secondary when it comes to Apple Music. This is according to a report from Fast Company in which Cook was quoted as saying just that.According to Cook, he said, “We’re not in it for the money.” Instead it seems that Apple’s approach to music is more “humane” focused, where, “We worry about the humanity being drained out of music, about it becoming a bits-and-bytes kind of world instead of the art and craft.” While Cook does not come outright and say it, many seem to believe that this is a jab at Spotify who largely relies on algorithms to make its music recommendations, versus human curation.
That being said, it is interesting what Cook said about not caring about money. This echoes what Apple exec Jimmy Iovine said last year where he stated that music streaming services aren’t actually making money. He also points out how companies such as Apple have no problem with that as they have plenty of other revenue sources, versus platforms such as Spotify which pretty much rely 100% on their streams.
However according to Spotify’s CEO Daniel Ek, he doesn’t see this as a disadvantage. According to Ek, “Music is everything we do all day, all night, and that clarity is the difference between the average and the really, really good.”
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