“Apple may be betting on new products such as Apple Pay, Apple Watch, and Apple Music to diversify its revenue streams,” Rachel Gunter writes for Market Realist. “However, the company is likely to face an uphill battle in nurturing its streaming music business, Apple Music.”
“Parsing through the data recently shared by Apple and its rivals suggests that while Apple Music is growing its subscriber base rapidly, it still trails the growth rate of its primary rival — Spotify,” Gunter writes. “Apple recently said that globally, Apple Music’s paid subscriptions had reached 20 million. This figure suggests a growth of 15% within three months… ~1 million subscribers per month.”
“Spotify had 30 million paying subscribers in March and reported 40 million paying subscribers in September,” Gunter writes. “This increase marks an additional ~1.6 million paying subscribers in each month between March and September 2016.”
Read more in the full article here.
MacDailyNews Take: That’s too small a time period to provide much meaningful data. Apple Music will be just fine.
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