[fy20]

I'd say Steve was actually wrong here. The move to streaming (which Apple had a big part in pushing, directly or indirectly), is actually what halted music privacy. Giving access to all music (I remember the big deal Apple made when they were finally able to sell The Beatles on iTunes), and making it easier than privacy is what stopped it.

He's right that DRM alone didn't stop it, but at the same time you can't really say it didn't help. If we could just download Spotify playlists and share DRM free files with out friends, there would be no reason to subscribe to Spotify on an ongoing basis.

Hollywood still hasn't figured that out, but given how little artists get paid, maybe that's what they haven't push for the same.