**Apple Hit with €1.8 Billion Fine by EU**
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European Union has ordered tech giant Apple to pay a hefty fine of €1.8 billion following an investigation into alleged anti-competitive behavior by Spotify. The investigation stemmed from a complaint filed by Spotify in 2019 regarding Apple’s App Store rules. The fine, which is nearly four times larger than the expected amount of €500 million, highlights the seriousness of the violation.
**Apple’s Response to EU Ruling**
In response to the EU’s ruling that its App Store rules breach competition law, Apple has criticized both Spotify and the European Commission. The tech company argues that the ruling “ignores the realities of a market” and questions the fairness of the decision. Apple also points out the numerous meetings between Spotify and EC officials since the initial complaint was filed, indicating a complex and ongoing dispute.
**Live Nation Denies Fault for Rising Ticket Prices**
Amid discussions by US politicians on the ticketing sector, Live Nation has issued a statement denying responsibility for the increasing ticket prices. The entertainment company, including its Ticketmaster division, asserts that promoters and ticketing companies are not to blame for the rising costs, placing the issue on external factors within the music industry.
**In Brief: Recent Industry Developments**
– Warner Music Group considers an offer for Believe, potentially leading to a boardroom battle for control of the French company.
– Hipgnosis Songs Fund experiences a setback in value, necessitating strategic adjustments to maintain financial stability.
– Proposed legislation in Congress seeks a US-wide ban on TikTok due to data security concerns associated with its Chinese ownership.
– Statistics from ERA reveal shifting trends in music consumption, including the rise of mail-order music and declining audiobook sales.
– British artist Raye makes history at the BRIT Awards by winning six out of seven nominations, setting a new record for female artists.
**Tidal Enhances Audio Quality in Subscription**
Tidal, the music streaming service, announces an upgrade to its subscription tiers, offering higher quality and immersive audio as part of its standard package. This change aims to provide a better listening experience for users at a more accessible price point.
**The Truth About Ticket Prices**
Amid ongoing antitrust scrutiny of Live Nation and Ticketmaster, criticisms of their alleged monopolistic practices leading to high ticket prices are debunked. The industry debate continues to unfold as stakeholders grapple with the complexities of pricing and competition within the live entertainment sector.