After a big push-back from the music industry over its policies relating to the three-month free trial period of its new streaming music service, Apple Inc. AAPL 0.59% has apparently had a change of heart.
Following an open letter penned by music superstar Taylor Swift voicing her opposition to Apple’s policies, Apple senior vice president of Internet Software and Services, Eddy Cue, posted a series of Tweets late last night stating that Apple now intends to pay artists during Apple Music’s free trial period.
The Issue
Apple eventually intends to share revenue from Apple, Music with record labels, and has even indicated a more generous deal for labels than the industry standards set by rivals such as Spotify and Pandora Media Inc P 2.26%. This deal means that artists can expect to get a large percentage of the $10 monthly subscription fee that Apple Music customers will pay for the service.
However, the source of the dispute is Apple’s three-month free trial period during which the service will be generating no subscription revenue. Apple had previously indicated that it had no intention of paying record labels for use of their music libraries during this time.
Swift’s Impact
Many music industry insiders voiced…
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