[ad_1]
The radio company filed for bankruptcy protection earlier this year and has a debt of about $ 20 billion. He has had talks with potential investors as a deadline is imminent this month for iHeartMedia, the largest radio broadcaster in the US with over 850 stations, to submit a reorganization plan. in the bankruptcy court. If the investment, which iHeartMedia apparently hopes to earn for tens of millions of dollars in shares, will not go forward, Apple could instead enter into a multimillion dollar marketing deal, according to the report.
If companies join forces, Apple could make Beats 1 available on the iHeartMedia network. The radio station is currently only available on Apple's platforms, but increased availability should help to make Apple Music better known to people who primarily listen to radio broadcasts and could gain new subscribers to Apple. The goal of Beats 1 was apparently to promote Apple's subscription service, but the station could not have attracted as many listeners as the company's hope.
Apple reported earlier this year that Apple Music had more than 50 million users, paying subscribers and free trial members. While the numbers have not increased significantly since then, this places it considerably behind Spotify, which revealed in its quarterly quarterly earnings report that it had 87 million paid subscribers. To help it cope with the competition, Apple bought Shazam earlier this year to improve the recommendations in Apple Music.
Source link
