Apple’s plan to buy Beats spotlights allure of Spotify, Pandora and other streaming services
With US tech giant Apple having recently announced its plans to acquire headphone maker and subscription music provider Beats Electronics LLC for $3.2 billion, other streaming firms like Spotify and Pandora Media have also come under the spotlight.
About the increased attractiveness of other streaming service, after the revelation of Apple's plans to purchase Beats, Manatt Digital Media Ventures' CEO Peter Csathy said that an Apple-Beats deal may apparently accelerate a possible initial public offering of leading streaming-music service Spotify.
Csathy further added that Pandora - which is the largest player in Internet-based radio - may also need to pair up to challenge a rival service which combines hardware, software and the music-industry ties of Beats co-founders Jimmy Iovine and Dr. Dre.
According to Csathy, Apple's acquisition of Beats will ramp up the marketing of Betas products manifold, thereby spurring the sales of Beats headphones as well as the adoption of the company's $9.99-per-month Beats Music service.
Noting that "there's bound to be accelerating discussions and strategies on multiple fronts from all the players not in this (Apple-Beats) deal," Csathy said during the course of a recent interview: "This is clearly a shot across the bow to other on-demand streaming services."
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