The decision is a manifestation of Apple's priority change in the period of streaming music. When iTunes Festival was launched, streaming media was still relatively new, so selling more albums became Apple's main goal.
Each video presented by iTunes is well received, and Apple still does not have to worry about the number of customers and users of the music app because it has not had many competitors. Apple also does not have to worry about albums purchased by users, as long as there is a purchase on the app.
This is different in the Apple Music period, when Apple not only has to attract the attention of new consumers but also keeps them to keep subscribing to their apps in the long term.
This requires Apple to provide unique content offerings to keep consumers coming back and continuing to subscribe.
Apple Music recently supported individual shows such as Arcade Fire, Haim and Vince Staple, and took advantage of event-length video per episode such as Carpool Karaoke, to entice consumers to visit apps on a regular basis.
The big monolithic music festival is reportedly not helping Apple in attracting consumers' attention. The festival is called to attract consumers in the short term, but listeners quickly and easily lose interest when artists leave the stage.
Meanwhile, Apple is currently preparing to host its big annual launch event, reportedly will feature the latest iPhone series and Apple Watch 3rd generation.
This event will be a proof-related event rumors tenth anniversary edition device, called will carry the name of iPhone X.