Apple Stock News
Apple is currently in the talks about having Russia be one of the first countries to host Apple’s upcoming music streaming service. The on-demand streaming service is rumored to debut at the World Wide Developers Conference next month. A local business publication cited sources at major Russian labels on Wednesday, which claimed Apple was in talks with the record labels about the idea.
Currently, Apple operates the iTunes store in Russia. In order to offer on-demand streaming in the country, the company will have to expand its licenses to cover the new arrangement. The newest report indicates that the company is planning on releasing the new product with a large-scale global release.
After acquiring Beats for $3 billion in 2014, Apple plans to relaunch the Beats Music streaming service in June at its annual developers conference. Paid downloads are now in decline as streaming services like Spotify become more popular. In fact, revenue from ads for streaming music were greater than for paid downloads, which shows why Apple is aiming to release a global streaming service, with Russia one of the first markets it enters.