I think whats interesting about the whole thing is that as always, history repeats.
Once upon a time Microsoft was going to rule the world and Windows was going to eat all the competition. It tried and failed. Today MS is a shell of what it was in the roaring 90s.
Now it’s Apple’s turn to try ruling the world. And just like MS did, Apple is overreaching. I give Jobs credit. He understood his market. Without him, Apple isn’t so fortunate.
Apple has lots of cultists to be sure. But most of them will go to where the music is. And if enough artists with a name simply go elsewhere, Apple will suddenly see a huge loss in profit. That does not even take into account that the rec0rd co’s are borderline on profitability now. They can’t figure out the internet to this day and many in the industry top to bottom are in downsize mode for survival. Top to bottom. RCs, Engineers/studios, artist...all of it.
So when Apple comes along and socialized their evaporated profits, you can expect significant blowback.
I believe the record biz (and radio biz) problems are because the ivory towers are dictating the tastes rather than serving the audiences what they want.
They've abandoned radio because it is decades moldy oldie classic corporate rock and light feel good office secretary music.
People don't turn to radio to hear "new music" because by and large it isn't found there.
And the acts the major labels are pushing are using formulas (cue that country mashup video that spliced 6 variants of the same "nu country" how-we-ro-O-olll riff).
Music was in a doldrums before the Beatles and before Nirvana. Something OTHER than pinup boys singing love songs (which is a path that G.Martin repackaged the Beatles as to break them, when the marketing suits said they were a 'guitar group' which was 'out' as a trend) or rap-metal hybrids (of the late 80s-early 90s).
We've had a too many years of ex-Disney stars and boy bands pushed as the mass market. Where's something for someone over 14? Top 40 is a joke. The market fragmented with everyone in their own subculture because the street level marketplace was unfulfilling.
All the "internet foresight" in the world won't fix their fundamental problems.
A few big names pulling in the majority of the money. But in the top 20 earners, about half are from 30+ years ago still being asked to ONLY play their songs of 30-40 years ago.