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)
