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Jeff Chiu / AP

Apple is looking give record labels a smaller share of revenue made from streaming with Apple Music, Bloomberg reports. Other streaming services, including Spotify, have made similar moves as turbulence in the streaming business looms.

Why it matters: Streaming businesses are continuing to grow adversely to revenue gains, which is why they are slashing revenue for record labels. Labels are for the most part tolerant, because of the promise of continued audience growth on streaming platforms. For Apple, the biggest challenge is ensuring growth on Apple Music won't cannibalize iTunes, which is more widely accessed in other markets.

Elsewhere in the market: YouTube just resigned a revenue share agreement with music creators, while other platforms, like Apple Music's main competitor Spotify, continue to negotiate better deals to land big names. Taylor Swift just joined Spotify after 2+ years of boycotting streaming.

Go deeper

Updated 47 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day.
  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus.
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases.
  4. Sports: MLB to investigate Dodgers player who joined celebration after positive COVID test.
  5. 🎧Podcast: The vaccine race turns toward nationalism.

The norms around science and politics are cracking

Illustration: Aïda Amer/Axios

Crafting successful public health measures depends on the ability of top scientists to gather data and report their findings unrestricted to policymakers.

State of play: But concern has spiked among health experts and physicians over what they see as an assault on key science protections, particularly during a raging pandemic. And a move last week by President Trump, via an executive order, is triggering even more worries.

Ina Fried, author of Login
2 hours ago - Technology

Apple sets September quarter sales record despite later iPhone launch

Apple CEO Tim Cook, speaking at the Apple 12 launch event in October. Photo: Apple

Apple on Thursday reported quarterly sales and earnings that narrowly exceeded analysts estimates as the iPhone maker continued to see strong demand amid the COVID-19 pandemic.

What they's saying: The company said response to new products, including the iPhone 12 has been "tremendously positive" but did not give a specific forecast for the current quarter.