Apple is ready to take the music industry with a storm. Earlier today, Apple Inc. launched an all new service called iTunes Match which will allow users to listen to music on any device at just $25 per year. Apple will give 70% of their earnings generated from iTunes Match to the music industry, which is still a huge amount, considering the music industry still makes a cool $16 billion a year, though this figure has decreased by 40% in the last decade due to piracy.
With the help of digital signatures, Apple will be able to give respective users their rights to access songs on any device. This will not only prevent privacy but will also save users the hassle of downloading and uploading same songs again and again.
Apple management is in talks with various record companies. Record companies are losing a lot of revenue due to piracy. If record companies agree to Apple iTunes Match, they will atleast be guaranteed some revenue.