“Apple’s Services revenue rose 24% YoY (year-over-year) in fiscal 4Q16 to $6.3 billion,” Adam Rogers writes for Market Realist. “App Store revenue was driven by Apple Music, which grew 22% YoY.”
“Recently, a J.D. Power Streaming Music Satisfaction Study named Apple Music as the top-rated music streaming service,” Rogers writes. “According to the study, 35% of respondents were “strongly committed” to Apple Music. In comparison, 30% of respondents were strongly committed to Spotify and Google Music.”
“Apple Music now has over 17 million subscribers, up from 15 million in August 2016 and 11 million in March 2016,” Rogers writes. “Spotify has only 30 million paid subscribers, and the company has taken almost ten years to reach this figure.”
Read more in the full article here.
MacDailyNews Take: Why is Apple Music gaining subscribers so quickly? Because Mac, iPhone, and iPad customers are the cream of the crop and have disposable income and the proven will to spend it (see their Macs, iPhones, and iPads) – especially on services such as Apple Music which has shown great improvement in a very short period of time while delivering access to content that simply cannot be found anywhere else. Exclusives work, but not nearly as well as the possession of unmatched demographics about which rivals can only dream.
SEE ALSO:
Apple mulls major Apple Music price drop, sources say – November 1, 2016
Amazon challenges Apple, Spotify with new music streaming service starting at $3.99 a month – October 12, 2016