Apple music re-boot ‘material’? Yes, it is Wall Street
Tim Cook has roughly 3 billion reasons to make a big splash on Monday with Apple’s (AAPL) new subscription streaming music service. With iTunes store revenue growth stalling, he needs the acquisition of Beats Electronics to pay off. Apple paid $3 billion and change, its biggest acquisition ever, for Beats Electronics, a maker of high-end headphones, and Beats Music, an unproven subscription music service, in 2014. Apple appears to be racing to forge more deals with record labels before the curtain rises on the annual Worldwide Developers Conference (WWDC), slated for June 8 to 12 in San Francisco. Apple’s new streaming service will add more features and presumably content to Beats Music, which has about 300,000 paying subscribers vs. 15 million at Spotify. How big are the stakes for Apple and Cook, aside from his reputation as an M&A meister? Apple’s service business, which includes the iTunes online store, rose…