Eddy Cue

Even though his team is down a game in the NBA Championship series against the San Antonio Spurs, athlete LeBron James does have something new to smile about. As part of Apple’s $3 billion acquisition of Beats Electronics and Beats Music, James is due to net a profit of $30 million:

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Apple wants to replace yet another daily tool with your iPhone: your wallet.

Executives from the Cupertino-based technology company have begun discussions with directors from retail store chains about a mobile payments service, according to a source with direct knowledge of the talks. Previous reports indicated that Apple is exploring new payments services through discussions with executives from existing payments companies. These latest mobile payments-related discussions, which have occurred with retail store brands such as those that sell luxury clothing and premium goods, have taken place over the past couple of months, according to the source. The source declined to be named and requested that the identities of the companies talking to Apple not be published.

The Apple mobile payments service would be integrated into iOS Devices such as the iPhone and would be a comprehensive solution that would allow an iPhone user to leverage their device as a form of payment in retail stores. Based on information from various people briefed on the matter, the service would tie directly to iTunes accounts. Apple Senior Vice President Eddy Cue noted last night that Apple has 800 million iTunes accounts with credit cards, and that this arsenal opens up the door for many future products and services. Apple CEO Tim Cook previously hinted that the iPhone’s Touch ID fingerprint identity sensor could someday be leveraged for mobile payment purposes beyond the existing iTunes and App Stores…

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(Image via Re/code)

It’s typical in any acquisition for both parties to sing the praises of their new partner, and Eddy Cue was certainly playing his part at Re/code’s Code Conference, saying that Beats’ curated playlists were a key strength and would help music grow again. As Mark Gurman reported in his live blog coverage at Code Conference:

Cue said Apple bought Beats because “music is dying. It hasn’t been growing.” He said combining the two companies will help it grow again […]

Cue said what makes Beats good is that it provides users with curated playlists.

He said: “When you bring what Beats has got and what we’ve got it’s not two plus two is four. It’s something much more than that” …

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Cue on the right, Iovine on the left

Earlier today, Apple announced that it has acquired Beats Electronics and Beats Music for a total of $3 billion. Tonight, two of the masterminds behind the deal will be interviewed about a range of topics at the Code Conference. Apple Senior Vice President of Software and Services Eddy Cue along with Beats co-founder and music mogul Jimmy Iovine will be interviewed by Re/code’s Walt Mossberg and Kara Swisher. Previously, Cue was scheduled to be interviewed alongside Apple Senior Software Vice President Craig Federighi, but it appears that the acquisition’s announcement changed up the plans. We are on hand for the interview and we will be providing live coverage below. The interview starts around 8PM Pacific/11PM Eastern Standard time:

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Apple’s Craig Federighi (Getty)

This morning, Apple revealed the schedule for next month’s Worldwide Developers Conference. To start things off, an Apple keynote will be held from 10AM to 12PM on Monday, June 2nd at Moscone West. Apple typically holds keynote addresses to kick off WWDC, but this schedule serves as the first direct confirmation from Apple. The event will likely be led by Apple CEO Tim Cook with assistance from Senior VPs Craig Federighi and Eddy Cue, who have some new software and services announcements, respectively…

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Tim Cook may have called the Haunted Empire book ‘nonsense’, but the derisive comments about the book from Apple executives do not end there. Personally, I found the pen-throwing anecdote too funny and decided to ask Cue whether it was true or not. I wasn’t really expecting a reply, but to my surprise he actually did.

I asked about the story’s truthfulness:

I am slightly obsessed with the anecdote about Jobs throwing a pen in your face. Is the story true?

Cue replied rather curtly:

No it’s not.

Hard to argue with a direct reply from Cue himself. The full extract from Haunted Empire can be seen below. You can find 9to5Mac‘s full review of Kane’s controversial book here.

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In an effort to boost usage of its new streaming music service that launched alongside iOS 7 last fall, Apple is considering changes to iTunes Radio. The Cupertino company is now testing iTunes Radio as a standalone application with iOS 8, according to sources briefed on the plans. iTunes Radio first arrived as a feature within the iPhone, iPad, and iPod touch operating system’s Music application. As a tab in the already-existing Music app, iTunes Radio has not received a promoted presence on iOS, and this likely has deterred growth for the service in terms of advertising revenue and usage…

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Apple is readying an upgraded version of its iPhone, iPad, and iPod touch Maps application for the next major release of iOS in an effort to battle Google for mobile maps supremacy, according to sources briefed on the plans. Apple CEO Tim Cook, Senior Vice Presidents Eddy Cue and Craig Federighi, and Maps head Patrice Gautier are using the new app to move toward fulfilling a promise to users that the iOS Maps application will eventually live up to the “incredibly high standard” of Apple’s customers…

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An SEC filing reveals that six of Apple’s top execs were each awarded 35,000 Restricted Stock Units (shares that cannot be immediately traded), with a current value of more than $19M. Of this, $12M is awarded outright, subject only to remaining with the company until at least April 2018, with a further $7M dependent on Apple’s stock performance.

The bonuses were awarded to Senior VPs Eddy Cue, Craig Federighi, Dan Riccio, Phil Schiller, Bruce Sewell and Jeffrey Williams. It’s likely that Jony Ive will receive the same, though his stock awards do not have to be reported to the SEC … 
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Image via The Loop

Apple has announced that it is bringing the iTunes Festival to the United States for the first time, after being a UK-only event since it began in 2007. The festival will be held at SXSW from March 11th to March 15th, at the Moody Theater.

The show will feature chart-topping acts from Coldplay, Imagine Dragons, Pitbull and ZEDD with more announcements to follow. Just like the UK event, anyone can stream the event for free from their iOS devices, Macs as well as Apple TV.

In the press release, Cue said that the event is a way of sharing Apple’s love of music with customers.

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The Wall Street Journal has published a report that largely corroborates what Bloomberg said earlier; a new Apple TV is under development with Apple currently in negotiation stages for content deals, with at least Time Warner Cable. However, the Wall Street Journal adds some new information about what these talks entail.

Initially, it appears that Apple wanted an independent Apple TV product to offer TV shows and films exclusively over the Internet. However, now it appears that Apple is scaling back some of its ambition due to resistance from content companies.

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Today, Apple has announced that App Store sales topped $10 billion in 2013. In December alone, customers spent over $1 billion in the store, a record-breaking figure — the most successful month in App Store history. In total, developers for iOS and OS X have now earned $15 billion on the App Store.

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Adweek is reporting that Apple is focusing the iAd sales department almost exclusively on iTunes Radio, rather than developing its in-app ad portfolio, which is how the service originally started. According to the report, Eddy Cue told the advertising unit that iTunes Radio advertisements are a top priority, presumably as Apple is preparing to expand the music service into more countries next year.

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Apple senior VP Eddy Cue has tweeted a link to a video in which he accepted on behalf of Steve Jobs induction into the Bay Area Hall of Fame. The Hall of Fame was created by the Bay Area Council to recognize prominent entrepreneurs in the San Francisco Bay area.

[tweet https://twitter.com/cue/status/400162837789540352 align=”center”]

The 14-minute video (below) contains some memorable Steve Jobs clips, a message from his friend and Intuit chairman/Apple Board memeber William Campbell – and an emotional speech by Eddy Cue, in which he talks of what Steve meant to him as both a friend and a colleague … 
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Apple’s popular, free music streaming service iTunes Radio looks set for an imminent launch in Canada. Since launching last month in tandem with iOS 7, iTunes Radio has been exclusive to the United States. However, Apple Senior Vice President Eddy Cue has noted that he would like the service to launch in “more than 100 countries.” Even with this plan in place, there has been no indication of when iTunes Radio would arrive internationally and exactly where…

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