During an interview with Bloomberg’s “The David Rubenstein Show: Peer-to-Peer Conversations” television show, Tim Cook recently confirmed that Apple Music now has a total of 50 million subscribers, between paid and trial members. The news comes only after a month of the company declaring that it has 40 million subscribers.
Going by the numbers, the company has been able to successfully convert 4 million trial members to paid subscribers every month. These numbers have been said to be consistent since January. This also suggests that Apple will have about 60 million subscribers by November, only three years after its launch. Apple has been competing with Spotify, which has been in the industry for more than ten years and has about 75 million premium subscribers.
Besides Apple Music, Tim Cook also addressed Apple’s efforts in creating video content. In his interview he stated, “We are very interested in the content business. We will be playing in a way that is consistent with our brand,” further adding, “We’re not ready to give any details on it yet. But it’s clearly an area of interest.”
Apple’s push in creating video content is no big surprise. It was earlier reported that Apple was investing about $1 billion in producing original TV shows. It’s a budget Apple plans on increasing. Other reports have stated that Apple has spent more money in acquiring TV shows than Facebook and YouTube. However, these numbers are still short compared to Netflix. In a recent report it was said that Netflix plans on spending about $8 billion dollars in to creating original content.
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But according to Apple SVP of Internet Software and Services, Eddy Cue, the strategy is to not go for quantity but quality. One of the few shows Apple plans on producing include, a revival of television’s sci-fi anthology series “Amazing Stories,” and a drama show starring Reese Witherspoon and Jennifer Aniston. There is also an animated musical series from the creator of “Bob’s Burgers,”. Apple has also signed a lease for a building in California, which is supposedly going to be its content-related headquarters.
While there’s still no specific date, rumors have suggested that Apple plans on rolling out the service by March 2019. However, some of the shows are said to be releasing a lot earlier. This mostly relates to the content that is being created as part of Apple’s funding efforts from 2018.