- Jimmy Iovine (Co-Founder Interscope Records and Beats by Dre, CEO Apple Music) warns that subscription streaming services won’t bring back the music industry.
- Despite streaming growth, music industry earnings are still half the early 2000s peak ($20 billion/year).
- Iovine claims backers of streaming services don’t mind losing money since they help sell other profitable products (iPhones, Amazon Prime).
- Unlike before, unsigned artists use free streaming (Soundcloud) to build large followings, forcing labels to give them favorable terms once they sign.
