The competition is growing fierce, as Apple Music is gaining on Spotify with 10 million subscribers that are actually paying for the service. It did not take long at all for Apple’s music streaming services to earn a name on the market. It’s already ahead of most of its rivals, and ambitiously reaching out for first place.
Apple Music launched 6 months ago, after the acquisition of Beats Audio back in May, 2015, for a whopping $3.2 billion. According to Apple CEO Tim Cook, music has a long history of change and their company has had a tight relationship with it in the past. However, it can be argued that the iTunes has been successful through its lack of major competition at the time. Its bug-riddled and non-intuitive interface did not gain praises.
But it seems that the firm made a step forward.
After the launch of Apple Music, it only took them 6 months to reach 10 million paying subscribers. Their main competition, Spotify, took 6 years to gain that much attention from paying clients. It’s an incredible growth on the side of Apple that may hint at a future dethroning of the long-running main service. The company also has the advantage at launching their music streaming services in nearly twice the amount of countries.
Spotify currently boasts 20 million paying subscribers as of June, 2015. It’s double the amount of Apple Music, but their services also initially launched back in 2008. While it’s defeating the newest music streaming client in sheer numbers, it’s apparently lagging behind in terms of growth. However, it should also be noted that Spotify has yet to provide an updated number.
Instead, they only provided a comment claiming that the second half of 2015 progressed with the “fastest subscriber growth ever”. So, it’s possible that their numbers have surpassed the known 20 million paying subscribers. Their service holds an impressive 75 million monthly active users, which means that there’s tremendous potential for many of them to switch to paying services.
So far though, it seems like Apple Music is breathing down the back of Spotify’s neck. The service, however, still has a lot to improve. Experts state that it’s still flawed and its ties with iTunes is not helping matters. Apple Music’s accelerated growth might have something to do with impeccable strategic timing on the company’s part.
When Spotify launched in 2008, physical copies of albums and singles, such as CDs, still hit over 420 million in sales. When Apple Music launched last year, the number of CD sales is half of what it used to be eight years ago. The timing might’ve thrown the service into such a rapid growth, but it will be interesting to see how things play out in 2016.
Apple is optimistic, stating that there is a potential for them to become the leading service in music streaming by 2017.
Image source: zenfs.com