I worked at AT&T in the late 1990s on an early music sales (not streaming) service called a2b Music. It sounds ridiculous now (why would AT&T think they could succeed in consumer-facing music sales!) but at the time they were a co-owner of the AAC patents and wanted to commercialize them. They also had lots of bandwidth and thought this made sense.

Being "responsible" folks (and also having no choice in the matter) AT&T bent over backward to accommodate the labels. Half the product was proprietary DRM that made everything constantly unusable. Despite this, the labels still strangled us by limiting what we could sell. Apple quite correctly ignored all of this and solved the problem by first launching the iPod, waiting until it had critical mass (much of which involved tons of unpaid MP3 downloading) and then launching the iTunes Store in 2003 when they had an installed base full of piracy - and the major labels had no choice but to join on their terms. (Obviously I pity the small labels who got screwed in the dynamic.)

I think about this a lot when people complain about cryptocurrency or Uber/Lyft evading regulations or destroying legacy businesses. Often this kind of behavior is bad, often the little guy gets crushed. But at the end of the day, legacy businesses really are poison and much of the awfulness could be avoided if they weren't trying to hold on to things so tightly.