Apple Music which was launched by Apple on Monday may not differ from its arch rivals, feature wise, but the brand which is hailed by music lovers globally and loads of iTunes available makes the streaming music service unique. The service costs $9.99-a-month.
Apple’s new launch will hopefully finds solution for the decline in downloaded songs and invent new ways to grab consumers to pay for the music.
"The Apple brand speaks for itself and it will have an earthquake-like impact on the industry," said Daniel Ives, an analyst with FBR Markets. "Given the gold standard brand, given Apple's breadth and awareness, it's more important what Apple is doing strategically than moving the needle financially."
However there isn’t any rapid increase in Apple Inc shares, closing down less than 1 percent at $127.80.
"The only thing that is going to move Apple stock is iPhone sales and there wasn't enough news to be a mover in profitability," said Michael Yoshikami, the chief executive officer of Destination Wealth Management in Walnut Creek, California.
In the event, Apple also announces an up gradation Operating System for its watch that will allow developers create speedier “native” apps that rely less on iPhone. Apple revealed its next version of OS X for its Macs as "El Capitan".
- Manohar
