Update: According to industry sources, it appears that Steve Huon isn’t an Apple employee. Apple Music, as Apple’s senior VP of internet software and services Eddy Cue revealed, boasts 38 million subscribers. The older story follows below. Also Read - iPhone 12 Mini, iPhone 12 heading to the stores soon, launch event still rumored on October 13Also Read - Apple iPhone 12 Mini could cost $700, lack 5G connectivity; Here’s everything we know about the compact smartphone
Apple Music, the music streaming service from the Cupertino-based company, has grown to 40 million subscribers. The music streaming platform available on Android and Apple iOS devices has grown from 38 million subscribers announced by Apple’s senior VP of internet software and services Eddy Cue at SXSW last month. Also Read - Apple Watch Series 3 users should wait before updating to watchOS 7; Here's why
The new details regarding the subscriber base come from a tweet by Steven Huon, Apple’s content director in France. At SXSW, Cue said that Apple Music has gained two million paying subscribers over the previously declared 36 million user base. Now, the new information from Huon suggests the company had added 2 million new subscribers within a matter of weeks. While neither of them have given precise information about the subscriber base, there is no denial that Apple Music is growing at a faster pace than rival music streaming platforms.
During an onstage interview at SXSW in Austin last month, Cue also added that there are 8 million customers currently enrolled to Apple Music’s three month free trial. Cue then added there are two billion people in the world streaming music through apps like Apple Music, Spotify and several other such music streaming platforms. He also said that half a billion customers access the App Store every week, indicating a potential to attract many new subscribers.
The WSJ reports that Apple Music is poised to surpass Spotify as the leading music streaming platform in the US by the end of this year. Spotify, in comparison, claims to have 71 million paying subscribers and a total of 159 million active users. It recently listed itself via an unusual IPO filing on New York Stock Exchange to reach a valuation of nearly $30 billion. It is betting on working directly with artists and music composers to increase its revenue growing forward, which might not be an issue considering Apple’s experience with music industry and huge cash reserve for expansion.
Apple Music was officially launched on June 30, 2015 and it gives access to millions of songs and access to a 24-hour radio channel called Beats 1 hosted by Zane Lowe. The platform streams at 64kbps and 256kbps with HE-AAC and HTTP Live Streaming protocol. It also recently expanded with a dedicated Music Videos section as part of iOS 11.3 update.
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The Music Videos section highlights some of the video content produced to accompany a song streaming on the service. The section aims to make it easier for subscribers to discover videos of their favorite artists in addition to new music videos and those curated by Apple. Apple Music, App Store and other such services are a major part of Apple’s services revenue and it has been one of the fastest growing revenue streams for the company, which depends extensively on iPhone sales.