Apple (ticker: AAPL) just leveraged its existing iTunes Match algorithm for its Apple Music service, further solidifying it as a major player in the streaming wars.
While Apple Music’s release last year ensured iTunes libraries — even music not purchased from Apple — could be sent to the cloud, there was a caveat, reports Mashable. The songs included digital rights management, aka copy protection, reports Macworld.
This proved an issue when users would hear different versions of songs in their libraries on Apple Music. Apple had been using a metadata iTunes Match on Apple Music, reports The Loop. Now, Apple is shifting its better iTunes Match’s audio fingerprint matching algorithm to Apple Music users, 1 to 2 percent each day.
This is great news for users of both iTunes Match and Apple Music, who can now in theory ditch their iTunes Match subscriptions.
With a market capitalization of more than $550 billion, Apple stock is one of the biggest and most profitable on Wall Street, returning 1,270 percent to investors in the last decade. AAPL carries a healthy price-earnings ratio of 11, and pays a dividend of more than 2 percent.
The stock has fallen 20 percent in the last year and 5 percent since Jan. 1, making it a relative bargain. Famed investor Warren Buffett recently scooped up a $1 billion stake in AAPL stock, signaling its appeal for a buy-and-hold investor. Apple is scheduled to issue its second-quarter earnings on July 26.
Both Apple Music and rival Spotify will face competition in the U.S. from French streaming service Deezer, which now anyone in the U.S. can use for $10 per month as of Tuesday, reports Seeking Alpha.
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Apple (AAPL) Music Gets a Matching Makeover originally appeared on usnews.com
