Dive summary:
- Apple is expected to reveal a free, ad-supported internet radio service at the company's annual Worldwide Developers Conference in San Francisco on Monday.
- Some industry experts are saying Apple will be lucky to snag 5% of the $1.1 billion music streaming industry; it will be difficult to compete with established providers like Pandora, Spotify and Google Play: All Access.
- Other industry experts predict Apple is too late in the game to make much of a mark; the move by Apple may just be a brand control effort.
From the article:
"'If Apple were to equal Pandora's Street revenue estimate in CY14 of $875 million, it would add about 0.5 percent to overall Apple revenue,' Gene Munster, an analyst at Piper Jaffray, told Fortune. 'More importantly, we view the music offering as an opportunity to show consumers that they can deliver new, useful services with great experiences to make up for disappointments in Mobile Me and Maps.'"
