Taylor Swift gives thumbs up to Apple Music
Apple Inc. has won over perhaps the biggest holdout to music streaming: Taylor Swift. The superstar tweeted on Thursday that she has reached a deal with Apple to stream her albums through Apple Music, set to launch on iOS on June 30. This follows Apple's decision to pay royalties to artists during its free three-month trial period, after Swift and a number of indie labels chastised the company for not considering paying them during the trial period. "This is simply the first time it's felt right in my gut to stream my album," Swift said in a tweet. "Thank you, Apple, for your change of heart." Swift made industry waves last year when she pulled all of her music from Apple Music chief rival, Spotify. Shares of Apple traded up 0.5% to $128.66 Wednesday afternoon.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.