About 14 mths after leaving Apple, record producer and co-creator of Apple Music, Jimmy Iovine, spoke with The New York Times the status of music streaming services. He says everye faces the same challenges and describes what he learned from Steve Jobs, Apple and Napster.
“This is all a respse to Napster. I saw how powerful this technology was and realized that we had to shift gears. Record labels would not exist without technology,” he said. . NYT. “The reas I got into the music business had to be associated with cool things. And I realized that the record industry at the time, the way it reacted to Napster, was not uncool.”
Iovine says that 20 years ago, the recording industry “ditched” and chased people to protect its interests.
“So I said,” Oh, I’m the wrg party. “And I met a bunch of tech people. I met Steve Jobs and Eddy Cue from Apple. And I said,” Oh, that’s where the party is. We have to integrate this thought into [my record company] Interscope. “”
Iovine also wanted to work how his music was listened to, and said he had learned a lot from how Dr. Dre was ccerned with “cheap and ineffective equipment”. When he decided to create Beats music, he then learned from Apple how complex the hardware is.
“Steve Jobs used to sit with me in this Greek restaurant and draw what I had to do to make equipment,” says Iovine. “He said,” Here’s the distributi, this is the making, “and he was drawing this paper with a Sharpie. And I said,” Oh, [expletive]. “”
Iovine says his move from record producer to co-founder of Beats and then joining Apple was not a case of jumping from music to technology. But also that while he sees technology and music as part of the same thing, others do not.
“The two parties do not speak the same language,” he said. “The ctent doesn’t know what technology is building. And engineers just follow the way they see a problem. Ctinuous trading has a problem the horiz, as does the world of music. This does not mean that they cannot understand. “
The problem with streaming, he says, lies in profit margins and how music services can’t really differentiate.
“It doesn’t evolve,” says Iovine. “At Netflix, the more subscribers you have, the lower your costs. When it comes to music streaming, the costs follow you. And music streaming services are utilities – they’re all the same. Watch what works video Disney has nothing but original stuff. Netflix has ts of original stuff. But the music streaming services are all the same, and that’s a problem. “
He also sees a problem in the way that record companies no lger have a direct relatiship with music csumers. But also, it can be huge for musicians and performers.
“The artists now have something they have never had before, which is massive and direct communicati with their audience – from their home, …