Entertainment and eSports brand FaZe Clan completed a $725 million merger with B. Riley Principal 150 Merger Corp., a special purpose acquisition company (SPAC) and began publicly trading on the Nasdaq stock exchange Wednesday. FaZe Clan currently has around 93 creators with a combined 500 million followers across popular social platforms such as YouTube, TikTok and Twitch. In May, Forbes ranked FaZe Clan the fourth most valuable eSports company, estimating its worth at $400 million. Trading as FAZE, the stock fell nearly 25 percent in its first day of trading. Continue reading Gen Z Brand FaZe Clan Goes Public in $725M SPAC Merger

Last year Apple set aside $1 billion for Hollywood entertainment. But as the tech company pushes into entertainment, it faces issues related to its brand. Its first scripted drama, “Vital Signs,” a semi-biographical story about Dr. Dre, is a key example. After seeing its guns, cocaine and adult themes, Apple chief executive Tim Cook reportedly told Apple Music executive Jimmy Iovine that the content went too far, say sources, and nixed the series. Cook wants entertainment, but not the kind that could tarnish Apple’s brand. Continue reading Apple’s Hollywood Strategy Focuses on Family-Friendly Fare

Since Jimmy Iovine came to Apple in 2014 to revivify Apple Music, the company spent $3 billion to buy Iovine and Dr. Dre’s streaming and headphones company, and doubled its subscriber base from 10 million to 20 million users by 2016. Each user pays a base fee of $10/month. The leap upward is impressive, but the total number of subscribers is still much less than the subscriber bases at Spotify, YouTube and Pandora, all of which offer free, ad-supported versions of their streaming services. Continue reading How Apple Music Differentiates Itself in a Competitive Market

Apple plans to focus on a new business in original TV shows and movies, say sources. The content would be available to subscribers of Apple Music, the company’s $10/month streaming music service, which continues to be an underdog to Spotify. In the wake of slowing iPhone and iPad sales, Apple has been casting about for a new source of revenue; recently, it has been in discussions with Hollywood producers to buy the rights to scripted TV programs and is trying to hire studio/network marketers to promote the content. Continue reading Apple Makes an Original Content Play to Beef Up Apple Music

Apple is in “exploratory talks” to purchase Jay Z’s streaming music service Tidal, according to insiders. Apple is said to be interested in augmenting its Apple Music service with top artists associated with Tidal including Madonna and Kanye West. Tidal landed a number of high profile exclusive releases this year from West, Rihanna and Beyoncé. It is also the only streaming service to feature the catalog of the late pop star Prince. Tidal says it presently has 4.2 million subscribers who pay $20 per month for the high-fidelity version of the service or $10 per month for the standard-quality version. Continue reading Apple in Early Talks to Acquire Tidal Streaming Music Service

Funded by Apple, Beats co-founder/rap star Dr. Dre is starring in and executive producing a six-episode series, “Vital Signs.” Although it isn’t known whether any Apple platform — including Apple TV and the iTunes store — or traditional TV distributor will be involved, it is likely that Apple Music will distribute the series. Sources who have seen show descriptions report that Sam Rockwell (“Poltergeist,” “Seven Psychopaths”) and Mo McCrae (“Murder in the First,” “Sons of Anarchy”) are among the additional cast. Continue reading Dr. Dre Stars In, Exec Produces Apple’s First Scripted Series

Apple acquired Beats Electronics for $3 billion in May 2014. While it was expected that the Beats Music streaming service would be folded into iTunes Radio to take on Spotify and similar offerings, Apple Music was launched more than a year later. Now, Apple has announced that it plans to officially shutter Beats Music on November 30. A statement on the Beats Music site encourages subscribers to check out Apple’s new service: “Your subscription will be cancelled, but you can move your picks and preferences over to Apple Music right now.” Continue reading Beats Music to Close Now That Apple Music is Live on Android

While the first day of Apple’s Worldwide Developers Conference did not include any major surprises, the company unveiled interesting details about its much anticipated music service launching this month, new versions of its OS X and iOS operating systems, and software updates to its car, home and smartwatch products. Apple is replacing its Newsstand app with “News,” and Passbook has become “Wallet.” The company announced new partners for Apple Pay, including Trader Joe’s and JC Penney, and an upcoming compatible reader from Square. Continue reading Apple Announces New Products, Updates from San Francisco

The new Apple Music service, unveiled during yesterday’s WWDC in San Francisco, will be released for iOS the end of this month and will be coming to Android devices this fall. The service will allow subscribers to stream their favorite music, access curated playlists, and watch music videos and exclusive clips in HD for $9.99 per month. The company is also offering a $14.99 family plan for sharing Apple Music with up to five other people. Apple is adding a global radio station called Beats 1 that will be run by DJ and music producer Zane Lowe. Continue reading Apple Blends Streaming, Social, Radio for New Music Service

Apple is expected to launch its Beats Music streaming service at next month’s developers conference, but the tech giant has not been able to finalize deals with several of the major music labels yet. Originally, Apple tried to negotiate favorable deals with music labels that would allow the company to sell Beats Music for $2 to $5 less per month than the industry standard $10. Meanwhile, Jay Z’s new streaming service, Tidal, claims its deals give artists four times the royalty rate of Spotify. Continue reading Apple Needs to Secure Key Music Deals Before Beats Launch

Apple’s revamped Beats Music streaming service will debut later this year and will be looking to take on other popular streaming services such as Spotify. Originally, Apple intended to offer Beats Music at $8 per month, instead of the competition’s standard $10 per month, by using its leverage in the music industry to secure cheaper rights. The negotiations fell through, and with no plans for a free version of Beats Music, Apple may have to work harder to attract customers. Continue reading Apple’s Upcoming Beats Music Relaunch Has Spotify In Sight

Beats Music, a soon-to-be-released digital subscription service created by Jimmy Iovine, has a unique plan to attract subscribers and outdo competitors such as Radio and Spotify. This plan involves human curation, and while the company has declined to specify exactly how this will work, freelancers involved in the project have provided a certain amount of information. Essentially, unique playlists will be compiled by musicians, music writers and freelancers. Continue reading Beats Music Leans on Human Curation to Edge Out Competitors

Apple CEO Tim Cook met with Beats Electronics CEO Jimmy Iovine during a recent visit to Los Angeles, according to three people familiar with the matter. The execs met to discuss the business model and rollout plans of Beats’ Project Daisy, a subscription music service announced in January with little detail. The sources suggest Apple may be interested in a potential partnership. Continue reading Will Apple Team with Beats for Streaming Music Service?