Apple is planning a major international launch for its new music streaming service (AAPL) | ||
| | ||
Apple is planning an early launch in Russia for its upcoming music streaming service, according to a report in Billboard — indicating that it is likely to see a large-scale global launch. The Cupertino company is widely expected to relaunch its Beats Music streaming service later this year, after acquiring Beats in a high-profile $3 billion deal in early 2014. The Dr. Dre-backed music company was best known for its headphones, but the real prize for Apple seems to have been its music streaming product — offering it an entry point into a rapidly-growing sector of the music industry. Apple has historically dominated digital music via its iTunes store, but paid downloads are now in decline, and revenue from ad-supported music streaming is now greater than those from downloads for the first time. Billboard now claims that Russia will be "among the first countries where Apple will launch its music service," basing its report on a story in the Russian-language paper Vedomosti. Russia has a rapidly growing streaming market — growing 214% over the last year — but also has significant economic difficulties. This suggests that if Apple has selected Russia as one of the first countries in which the service will be available, it will likely be a particularly large-scale global roll-out. After all, in December 2014 Apple was forced to halt online sales in Russia altogether because of the instability of the Ruble, and bumped up prices in its app store by 100% in the country. (Sales have since recommenced.) And Apple CEO Tim Cook is openly gay, and the company has previously been criticised in Russia. The country has passed laws outlawing what it classes as the "promotion of homosexuality" — and a Russian politician slammed Apple's free giveaway of the new U2 album as "gay propaganda." A monument to Apple was also demolished in November 2014 after Tim Cook came out as gay, which the Guardian reports "was widely viewed as a direct response" to Cook's announcement.
Reports suggest that (unlike Spotify) it will be paid-subscription-only, but may offer free trials of up to three months to entice new users. And it is expected to have curated streams and playlists put together by high-profile artists, as well as content exclusive to the platform. It will also reportedly include some social elements, similar to Apple's now-discontinued music social network Ping. Join the conversation about this story » NOW WATCH: Forget the Apple Watch, Disney has already mastered wearable tech  | ||
| |
For the moment, Apple is staying tight-lipped about what its streaming service will include. It enters an increasingly crowded market, George Osborne is resurrecting his unpopular plan to sell off Britain's student loans | ||
| | ||
Almost a year after his first attempt was torpedoed by Vince Cable, Chancellor George Osborne is having a second go at privatising 14 years' worth of student loans. The Daily Mail reports that Osborne is planning to raise a record £23 billion this year through the sale of public sector assets, chief among them the student loan book. The loan book, estimated to be worth £12 billion, covers all student finance between 1998 and 2012. The buyer will have the right to collect on all the loans taken out during this period, a job currently done by The Student Loans Company. Osborne first announced plans to sell the loan book in his 2013 Autumn Statement. The Chancellor had already sold a collection of pre-1998 student loans that year. Critics said Osborne has sold them on the cheap, as the basket of loans had a face value of £890 million but sold for just £160 million. Plans to sell the 1998-2012 were highly unpopular with students, who organised protests up and down the country. One of the central concerns was that the interest rate cap on the loans, which limits the rate to the lower of RPI inflation or the Bank of England base rate plus 1%, could be lifted in order to make the loan book more attractive to private sector buyers — an idea proposed in a 2011 report by Rothschild investment bank. Liberal Democrat Vince Cable, who was then Business Secretary in the Coalition, eventually scrapped the policy, reportedly without telling the Tories he was going to announce the u-turn. But George Osborne now has a free hand, following the LibDem rout and surprise Conservative victory in the recent election. Vince Cable is no longer an MP, let alone a cabinet member. While plans the sell-off the loan book haven't officially been announced by the government — we won't know for sure until July's budget — it seems likely that Osborne will have a second crack given that the main obstacle to the plan has now been removed. Join the conversation about this story » NOW WATCH: Forget the Apple Watch — here's the new watch everyone on Wall Street wants  | ||
| |
Apple is planning a major international launch for its new music streaming service (AAPL) | ||
| | ||
Apple is planning an early launch in Russia for its upcoming music streaming service, according to a report in Billboard — indicating that it is likely to see a large-scale global launch. The Cupertino company is widely expected to relaunch its Beats Music streaming service later this year, after acquiring Beats in a high-profile $3 billion deal in early 2014. The Dr. Dre-backed music company was best known for its headphones, but the real prize for Apple seems to have been its music streaming product — offering it an entry point into a rapidly-growing sector of the music industry. Apple has historically dominated digital music via its iTunes store, but paid downloads are now in decline, and revenue from ad-supported music streaming is now greater than those from downloads for the first time. Billboard now claims that Russia will be "among the first countries where Apple will launch its music service," basing its report on a story in the Russian-language paper Vedomosti. Russia has a rapidly growing streaming market — growing 214% over the last year — but also has significant economic difficulties. This suggests that if Apple has selected Russia as one of the first countries in which the service will be available, it will likely be a particularly large-scale global roll-out. After all, in December 2014 Apple was forced to halt online sales in Russia altogether because of the instability of the Ruble, and bumped up prices in its app store by 100% in the country. (Sales have since recommenced.) And Apple CEO Tim Cook is openly gay, and the company has previously been criticised in Russia. The country has passed laws outlawing what it classes as the "promotion of homosexuality" — and a Russian politician slammed Apple's free giveaway of the new U2 album as "gay propaganda." A monument to Apple was also demolished in November 2014 after Tim Cook came out as gay, which the Guardian reports "was widely viewed as a direct response" to Cook's announcement.
Reports suggest that (unlike Spotify) it will be paid-subscription-only, but may offer free trials of up to three months to entice new users. And it is expected to have curated streams and playlists put together by high-profile artists, as well as content exclusive to the platform. It will also reportedly include some social elements, similar to Apple's now-discontinued music social network Ping. Join the conversation about this story » NOW WATCH: Forget the Apple Watch, Disney has already mastered wearable tech  | ||
| |
Dortmund's Hummels 'turns down Man Utd' | ||
| | ||
Berlin (AFP) - Germany defender Mats Hummels has ended speculation about a possible transfer to Manchester United by confirming he will play for Borussia Dortmund next season, according to a report on Thursday. The 26-year-old has turned down an approach from the English league giants and the Dortmund captain has told Borussia he will fulfil his contract which expires in 2017, according to magazine Kicker. "It was fair enough that Mats gave it some thought, but I have always pointed out that he is firmly part of our plans," said Dortmund's director of sport Michael Zorc. Zorc said he had met with Hummels and his father Hermann, who is also his agent, in which there was a "clear consensus" that he would stay with Dortmund. Hummels fuelled speculation that he was considering a move to United in recent weeks by repeatedly admitting he was weighing up his options. Reports in the UK media suggested Louis van Gaal's United had offered 40 million euros ($44.6m) for Hummels. But the Germany star will now play a central role in the plans of future Dortmund coach Thomas Tuchel, who will replace current boss Jurgen Klopp next season. A bruised foot meant Hummels sat out last Saturday's 2-1 league defeat at VfL Wolfsburg in the Bundesliga, a dress rehearsal for the German Cup final on May 30. He should be fit for Saturday's final home match against Werder Bremen with Dortmund needing a win, and for other results to go their way, in their bid for a Europa League place next season. Hummels, a World Cup winner, came to Dortmund in 2008 on loan basis from Bayern Munich before signing a full contract and has made 194 league appearances scoring 17 goals. Join the conversation about this story »  | ||
| |
