Apple is set to be hit with a €500 million fine by the European Commission in March for violating antitrust rules in the music streaming market, according to a report by the Financial Times. The penalty comes as a result of the company's failure to adhere to European regulations governing music streaming services. Insiders familiar with the details of the antitrust investigation claim that "the EU will levy a €500 million fine against Apple for music streaming," marking a first in the IT giant's history. The investigation, which began in 2019 following a complaint from Spotify, found that Apple's App Store payment system for music streaming content unfairly disadvantages competing platforms. The European Commission estimates that Apple's 30% commission on in-app purchases increases costs for rival services. In addition, Apple is accused of restricting user choice by preventing them from being informed about alternative streaming services. The European Commission considers this a violation of competition rules in the European Union. European regulators have subsequently concluded that Apple's conduct is illegal, accusing the company of abusing its dominant position and breaching trade conditions. Such actions warrant significant monetary compensation. This landmark fine for antitrust violations in the music streaming domain will be a first for Apple.
