Eddy Cue on how iTunes became Apple's services blueprint

""It truly revolutionized music, and it really gave us a whole different perspective of what services can do," Cue said."

""They had different pricing for each song. They had different rules. It was all over the map," Cue said."

""Instead of closing the transaction on every single one, why don't we just combine them over a period of time? Let's keep the transaction open," Cue said."

""It worked out, Cue said, as most transactions were worth more than $0.99. It ultimately helped the then 'cratering' music business," Cue said."

The iTunes Store, launched in 2003, transformed the music industry and Apple's business model. Eddy Cue, overseeing Apple's services, emphasized its impact on music sales and the company's ecosystem. Initially met with skepticism from record labels due to piracy concerns, Apple proposed a consistent pricing strategy and an open transaction system. This approach allowed users to purchase multiple songs efficiently, ultimately benefiting the struggling music industry. Cue noted that the iTunes Store was a pivotal moment that showcased the potential of combining hardware, software, and services.

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