A Tech Crunch report revealed that Apple is planning to shut down Beats Music, the streaming service it acquired in May for $3 billion. However, Apple has denied the reports about this plans to Re/Code.
Apple PR representative Tom Neumayr told Re/Code “This is not true” but did not mention or comment anything else. The report further said that Apple might not want to shut down Beats Music, but will “modify” the Beats Music brand overtime. At present Apple’s plans for Beats Music is unclear however a couple of Wall Street experts and industry analysts are suggesting that that the name would eventually be retired and streaming music would be incorporated into iTunes, with the Beats brand preserved for headphones and other audio products.
Currently, it looks the Beats streaming service will remain active and we will have to wait and see what plans Apple has in mind for the service.
via:Re/Code