According to investment firm FBR & Co., just prior to four months after it launched, Apple Music appears to already have 6.5 million paid subscribers, or nearly a third of the 20 million who pay for Spotify – a service which has been around since the year 2008. Analyst Daniel Ives recently issued a note to its investors where it declared that Apple’s entry into the streaming music space is off to a “solid start.” The subscriber numbers exceed what Apple expected to hit on their own as Ives previously forecasted for Apple to have 5 million paid subscribers by the end of October.
The analyst had the following to say regarding the matter:
We would characterize this initial stage of the launch as a 'triple' in the streaming ballgame.
In a comparison, just after 7 years of being on the market, the leading streaming subscription service, Spotify, earned a total of 75 million customers, 55 million free and 20 million paid. One of the biggest differences is that the Apple Music free service is a limited three-month window, whereas Spotify has an available ad-supported iteration indefinitely. Ives claims that Apple Music is the Cupertino California company’s first step before Apple jumps into the streaming television industry sometime next year. He claims that in the meantime, Apple will “spread the gospel” and add unique content and services to its streaming portfolio.
Apple Music comes in at a price point that similar to that of Spotify with a $9.99 per month plan for a single user subscription or $14.99 a month for a Family Membership, which can be shared by up to six people. Instead of paying for individual songs for albums, users can stream or download any track from Apple’s library of digital music, as long as they remain a paid subscriber. One of the biggest differences that Apple Music touts over its competitors is the human curation and expert music recommendations that are exclusive to the service. Furthermore, the service as expected, is also more tightly integrated with the company’s ecosystem, though it will be made available on the Android platform this upcoming fall at some point as well.
How do you feel about Apple Music? Are you using it? Share your thoughts and comments below!
Source: FBR via AppleInsider
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