Bono discusses music industry payment models and Apple's role
What happened
Bono discussed the state of the music industry, referencing the 2015 release of U2's album Songs of Innocence for free on Apple Inc.'s platform. Bono admitted he was responsible for pitching the idea to Tim Cook, who reportedly questioned the move, asking why the band would give music away for free after spending time getting people to pay for it. Bono noted that the band was experimenting to see if a company like Apple Inc. would pay for music distribution.
From femalefirst.co.uk
Why it matters
The discussion highlights ongoing debates about music business models and artist compensation. Bono noted that it is frightening how little other musicians are paid, underscoring the financial challenges facing the music industry.
From femalefirst.co.uk
Who's involved
- BonoBono, who discussed the music industry's financial challenges and the 2015 free album release.
- Tim CookTim Cook, who reportedly questioned the idea of giving music away for free.
- Apple Inc.Apple Inc., the platform where U2's album was released for free in 2015.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Apple Inc.Speculative
Apple Inc. might face pressure regarding the structure of music distribution revenue models.