Apple Music builds special section for music video

Apple announced that it's creating a new designated section for music videos within Apple Music, the company's subscription music-streaming service.

The new section intends to make music videos more noticeable within Apple Music and will only be accessible to paid subscribers. Apple Music is eager to drive subscribers to the service, now with a reported 36 million subscribers, as it competes with the current leader in music streaming, Spotify, with roughly twice as many subscribers to its paid service, per The Wall Street Journal.

Apple Music is looking to gain market share from rivals as fast-growing paid music-streaming subscriptions drive revenues across the entire recorded music industry.

In 2017, revenues from recorded music in the US rose 16.5% YoY to an estimated $8.7 billion, with paid music-streaming subscriptions accounting for 65% of industry revenues overall, and streaming-music revenues rising 43% YoY to $5.7 billion, according to a report by the Recording Industry Association of America (RIAA). With the rollout, Apple Music may also be looking to become better known as a more premium ad-free destination for watching music videos, with a more straightforward and higher quality user experience compared with YouTube.

A more premium environment could particularly appeal to "heavy users" (listeners) that YouTube recently said it would try to "frustrate" into being paid subscribers by delivering them higher ad loads. Further, some have speculated that Apple would push original video on Apple Music to drive subscribers to the service, and if it does, having a designated section would make sense.

Source:

http://music.einnews.com/article/439938295/lk9tkjcY2dW6i7Zx

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