(NBC News) Apple, already the world’s number one music retailer, announced Monday that it will move into the world of streaming music, at its Annual Developer Conference in San Francisco.
The tech giant revealed its new venture despite total music download sales pulling in more than double the revenue for subscription music streaming services.
“Anybody with a checkbook is a friend of the music industry. They look at Apple as the biggest checkbook out there and they want a piece of it,” said
The news comes as subscription revenue for music streaming services has grown 39% in just the last year alone.
Apple also introduced features for its newest operating system, dubbed “El Capitan”, along with developer tools to create new apps for the Apple Watch.
Read more: http://nbcnews.to/1BURTW7