Apple Music has recently launched an update in its application for Android which gives its users access to music videos previously only exclusive to iOS users.
Now Android users can enjoy Apple Music videos for a monthly fee.
Remembering that Apple Music has only recently launched its official Apple Music application to Android last November; it has taken off and is gaining ground fast in the short time it has been launched.
Why has a giant such as Apple taken such a leap as to allow the availability of its coveted music app to Android in the first place?
One reason may be is this move will give Apple Music the room to directly compete in Google Play Music and Spotify’s territory, both of which are in the top ten music application list.
Apple Music having 13 million plus subscribing users in just under one year has become Spotify’s top competitor. This leap to Android will be interesting to see since Apple is usually protective of its applications.
Spotify, the world's number one music streaming application at the moment, touts 30 million+ subscribers and 100 million+ users worldwide.
Launched in 2008, its competitor at the time was Pandora. Both Google Play Music and Apple Music arrived to streaming much later than the music streaming giants Spotify and Pandora, but both have gained much ground in the year since they were released.
Apple was able to gain a substantial amount of subscribers with its music app in little under a year what took Spotify a few years to accomplish.
The question is why utilize the competition and why have competition utilize your company and its resources such as Apple did recently with Apple Music and Android?
By utilizing a competitor's services and products, companies can create advantages not only in profit but also in staking territory amidst all the other competition thereby creating a massive force if done correctly. Also mergers and acquisitions can be another suitable option such as when Dell had acquired EMC (a cloud computing and big data company), for a $67 billion merger; making it the biggest tech merger/acquisition in history.
When collaborating with another company, there will be much information learned from one another, which can ultimately be useful. Also, while collaborating, there is no need to directly compete with one another now that you are working as a combined force.
Building Solid Momentum
Creating solid momentum will ultimately put you well ahead of the rest. When two competitors merge or work together, the quote, “Two is better than one,” hits its mark. A huge leap has been made and although there will be work needing to be done with harmonizing and creating formation within the two companies to combine, most of the major groundwork has been made within the two companies before the merge; but now together, has at least double the staying power.
Staying Ahead of the Curve
Predicting the future when it comes to your company can be a regular cat and mouse game. You never know what is going to happen initially, but you can try your best to figure out what will happen. Trends will be a big factor in what you may want to do next, but when you know you will need something bigger than a quick change to keep ahead, you may want to consider a collaboration or merger/acquisition.
Getting into new markets can be a very great reason to collaborate or get into a merger or acquisition. Since the legwork has been already done for you in the area that you are looking to get into, this can open up new revenues and customer-base. Especially if you are looking to expand into a new country where there are differences in culture, currency and language.
When saving costs is a reason you may be looking into a merger or acquisition then the good news is, many other companies such as airline companies and financial institutions go this route as well and have created more opportunity for their customers by leveraging new services, creating more options, and expanding in new locations. The advantages can spread to your consumers as well, creating more benefits.
Collaborations such as a joint venture is a great way to work with another company without the legalities and complications in a merger or acquisition.
This is a great starting point when venturing out and expanding; such as collaborating with a marketing company who specializes in all forms of communication and PR which can save you time focusing on what your company does best instead of hiring, training, and maintaining your own marketing team.
Mergers and acquisitions should be looked into thoroughly before making any lasting decisions, however, having a beta version or trial period with the new changes will make the transitions easier and give a time period where corks can be fixed as well as having strong legal advice throughout the process can help you abide by the laws throughout the procedure.