Pandora CFO Mike Herring made the comments during a recent speech as a California conference
Late Apple founder Steve Jobs has been blamed for the financial decline of the music industry by Pandora boss Mike Herring.
Pandora CFO Herring was recently speaking at a conference in California (as reported by Billboard) when he claimed that Jobs had “eviscerated the music industry with the launch of iTunes”.
“It’s been downhill ever since,” he continued. “And the download was supposed to save it – that didn’t happen”.
“Now on-demand streaming is supposed to save it,” Herring added. “We will see if that happens. I think what really needs to happen is we need to think broadly how do we drive engagement overall as a music industry and that message is starting to make sense.”
In his speech to investors, Herring also criticised Apple’s new music streaming service Apple Music, which includes 24/7 online radio station Beats 1. Pandora recently acquired another of Apple Music’s rivals in the form of Rdio.
Herring claimed that “no one subscribes” to Apple Music, adding: “Well, I guess a few million people do, but the reality is you want to get people to choose to do that is a much bigger trick. You have to have a great product.”
Jobs was recently the focus of new Danny Boyle film Steve Jobs, which starred Michael Fassbender as the co-founder of Apple Inc. Many leading US commentators have branded the biographical drama a “flop” after it made $9.98million (£6.5million) in its opening weekend – less than a third of its estimated $30million (£19.5million) production budget.