Dive Brief:
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Apple may shutter Beats Music, the music streaming service that came with Apple’s $3 billion acquisition of Beats Electronics earlier this year, which Apple CEO Tim Cook has gushed about.
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Meanwhile, Time magazine is reporting that Irish band U2 and Apple are working on a “secret project” that would revolutionize music sales.
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Beats Music, like similar streaming services, sells $10 monthly subscriptions for unlimited listening.
Dive Insight:
Perhaps Apple’s hefty purchase of Beats Electronics was all about the headphones. Although these reports of Apple shuttering the Beats streaming service are conflicting, and the company officially denies it, sources talking to TechCrunch and Re/Code sound pretty sure that major changes are afoot.
Meanwhile, what U2’s Bono means when he says the band is working with Apple to re-invent how consumers get digital music remains a mystery. But streaming music is beginning to take hold, especially with many mobile carriers offering data plans that are friendly to them.
