Eddie Cue, the widely respected Apple executive that spearheaded the deal to buy Beats Electronics and Beats Music, is also the person who Jimmy Iovine, Dr Dre and the rest of the Beats team will report to. But just a few hours after inking the $3 billion deal, Cue expresses a very pessimistic view of the state of the music industry.
"Music is dying," Cue said in an onstage interview yesterday at the Code Conference in LA. "It hasn't been growing. You see it in the number of artists. This past year in iTunes, it's the smallest number of new releases we've had in years."
And apparently, Cue thinks he's just the guy to change the downward trend. “Music is something really important to culture,” he said in the same interview. “It’s important to everyone in the world. … This (deal) is about us continuing to invest in music.”
What do you think?
Does the music industry need saving? And if so, will Cue, Apple and Iovine be the ones to do it?