Quoted: Apple streaming music service ‘happening’

“It’s happening tomorrow.”

— Sony Music CEO Doug Morris, confirming that Apple will announce its long-rumored streaming music service today at its annual WWDC in San Francisco. VentureBeat’s (and former Merc columnist) Chris O’Brien got the scoop as Morris spoke Sunday at a music industry festival in Cannes, France. Morris said the move will accelerate the shift toward streaming music. “What does Apple bring to this? Well, they’ve got $178 billion dollars in the bank,” Morris said. “And they have 800 million credit cards in iTunes. Spotify has never really advertised because it’s never been profitable. My guess is that Apple will promote this like crazy and I think that will have a halo effect on the streaming business.”

 

At top: In this June 2, 2014 file photo, pedestrians cross the street in front of the Moscone Center, which is hosting the Apple Worldwide Developers Conference, in San Francisco.  (AP Photo/Jeff Chiu, File)

 

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