Back in April 2003, Apple reinvented the music industry with the introduction of the iTunes Music Store. Although the iTunes Store wasn’t the first attempt at selling licensed music online, it was far and away the best platform — mostly because of the broad participation of the music labels, but also because of Apple’s seamless end-to-end ecosystem based around the iPod.
In the first year, Apple customers bought more than 70 million tracks. Within five years, iTunes had eclipsed Walmart to be the largest music retailer in the world.
Twelve years later, Apple is hoping to reinvent the music industry again — this time with its new Apple Music subscription streaming service. But things are different this time: Apple Music is entering an already-crowded streaming market at a time when the music industry feels more in flux than ever.
