Thanks to Spotify, the Music Is Stopping for Apple
The company hasn’t worried too much about appearing anticompetitive. That’ll have to change now.
This changes things.
Source: Bloomberg
Has Apple Inc. exploited its dominance to squeeze out rivals? Whatever the technicalities, the fact that there are now formal charges against the world’s most valuable company should start to change its attitude toward competition.
The European Commission hit Apple with an antitrust complaint on Friday for abusing its role as the App Store gatekeeper and disadvantaging Spotify Technologies SA’s music-streaming service. The financial impact of any ruling is unlikely to move the needle on the California-based company’s earnings — its services segment, which includes the App Store, generated 19% of the company’s $90 billion in first-quarter revenue.