Saturday, April 13, 2024
CEOWORLD magazine - Latest - Banking and Finance - EU to Imposes Landmark Fine of €500 Million on Apple Over Music Streaming Practices

Banking and Finance

EU to Imposes Landmark Fine of €500 Million on Apple Over Music Streaming Practices

The European Union is poised to levy a staggering €500 million penalty against Apple for purportedly impeding access to music streaming services, marking a significant setback for the American tech giant.

The European Commission is scrutinizing whether Apple obstructed music streamers from informing users about alternative, more cost-effective subscription options available outside its app store, where it commands a sizable portion of revenues.

Brussels is intent on imposing the hefty fine, signaling a pivotal ruling against Apple following years of grievances from companies whose services are channeled through iPhone apps.

In 2019, Swedish streaming titan Spotify lodged a complaint with the EU, alleging that Apple stifles competition within its app store by imposing a 30% levy on all transactions. Additionally, Apple purportedly prohibited Spotify and other entities from notifying customers via their devices about the possibility of bypassing the commission and securing a better deal by subscribing directly through Spotify’s website.

While Apple contends that its fee is warranted due to extensive investments in maintaining a secure app store and granting Spotify access to hundreds of millions of users, Spotify contends that Apple Music, Apple’s proprietary streaming service, evades the same financial burden, conferring an unfair advantage and rendering the fees anti-competitive.

While the European Commission declined to offer commentary, Apple refrained from issuing a fresh statement, reiterating its commitment to addressing the commission’s concerns “while fostering competition and choice for European consumers.”

Notably, Apple has never before been subject to a competition penalty from the European Commission, although it was fined €1.1 billion by France in 2020, later reduced to approximately €370 million on appeal, for engaging in anti-competitive agreements with two wholesalers.


Have you read?
Report: Vanuatu Citizenship by Investment Programme, 2023.
Report: CEO approval rating index, 2023.
PR for CEOs is Critical for Brand Success: Top PR Firms for CEOs.
Report: Top CEOs With The Highest Average Yearly Bonus, 2023.
Report: Top 20 worst countries for internet freedom, 2023.
Ranked: World’s Most Globalized Cities, 2023.

Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact:
CEOWORLD magazine - Latest - Banking and Finance - EU to Imposes Landmark Fine of €500 Million on Apple Over Music Streaming Practices
Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at