Originally posted on 24/7 Wall St.:
There are a lot of interesting issues surrounding the kerfuffle between pop music star Taylor Swift and Apple Inc. (NASDAQ: AAPL), not the least of which is how quickly the most valuable company on earth can change its tune when confronted by an individual with real star power. As she did when she withheld her latest album, “1989,” from music streaming service Spotify because the company offers a free stream, Swift withheld the album from Apple because it is offering a free, three-month trial of its new Apple Music service.
Swift’s argument is simple: if Apple or anyone else wants to stream my music, they have to pay me for the privilege. Apple did not plan to pay artist royalties for any tune streamed during the three-month trial period.
Calling Apple’s plan “shocking, disappointing, and completely unlike this historically progressive and generous company,” Swift got the answer she wanted. Late…
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