Apparently this is a problem, according to Apple Music exec Jimmy Iovine who told the BBC that eventually “something’s going to give”. According to Iovine, “The streaming services are all charging $9.99 and everyone has the same music, and it’s really nice. You get whatever song you want, you get your playlists – but there’s got to be more interaction between the artist and the audience. Sooner or later, something’s got to give.”
Iovine also points at streaming platforms like Netflix who is heavily-invested in original content. “Netflix [is] spending $6bn (£4.2bn) a year on original content. They have a unique catalogue and they charge you $10.99.” It is unclear as to how streaming services can set themselves apart, although we’ve seen some such as Tidal differentiate itself by offering higher quality music streaming, although that seems to be catered more towards a niche audience.
Another way we’ve seen companies try to set themselves apart is through exclusives, where artists might choose to launch on a particular platform first (or only), but what do you guys think? What else can companies do (besides compete on price) to get users to sign up?