Fans may be solely focused on consuming music for entertainment, but there’s a huge business behind the industry. From more music-focused competition series to mass layoffs to streaming service updates, here are three things you need to know about the music business today.

According to a new report by The Wall Street Journal, Netflix is exploring new programming options. One of the possibilities would be a collaboration with Spotify, people close to the matter told the outlet. The two services have held talks about partnering on projects including a music awards show and a live concert series, the outlet reported.

Outside of the potential Spotify partnership, Netflix is committing to music in other ways. The outlet reported that the streamer is rebooting Star Search, debuting an AJ McLean-hosted competition called Building the Band, and working on another music competition series as well.

In a memo to staff obtained by The Los Angeles Times, Robert Kyncl, Warner Music Group’s Chief Executive, announced layoffs. The cuts are part of a months-long restructuring plan that will save the company $170 million per year. In addition to layoffs, the company has decided to save $170 million annually by cutting real estate and administrative expenses.

“I know that this news is tough and unsettling, and you will have many questions. The Executive Leadership Team has spent a lot of time thinking about our future state and how to put us on the best path forward,” Kyncl said. “These decisions are not being made lightly, it will be difficult to say goodbye to talented people, and we’re committed to acting with empathy and integrity.”

In an interview with Music Week, Oliver Schusser, the Vice President of Apple Music, Apple TV+, Sports and Beats, revealed why the music streamer won’t be raising prices any time soon.

“We’re very focused on providing great value to our customers,” Schusser said. “A couple of years ago we put the price up, we were actually the first to put the price up. We put it up worldwide, across every tier. It was at a time when we had created Spatial Audio, which was a whole new listening experience, and it was a new audio format.”

“We wanted to make sure we gave that to all subscribers, and that significantly increased the quality of the service overnight,” he continued. “We felt like it was just fair, given the value exchange and the additional value, to put the price up. We’ll monitor pricing everywhere, but our focus is on providing great value to customers.”

With that being said, listeners should never expect to get access to Apple Music for free.

“We don’t understand why people think it’s a good idea to give away art for free. So we’re fundamentally against the idea of free music services,” he said. “… It’s crazy that 20 years into streaming, we have hundreds and hundreds of millions of people consuming every new album that’s out there for free. That’s not the way it should be, artists are unhappy with that and I understand that.” 

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