“Stockholm-based Spotify, which listed on the New York Stock Exchange earlier this year and has 87 million paying subscribers, has already effectively squeezed out competitors such as Rdio Inc., thanks to market timing, brand recognition and an ad-supported free version,” Josh O’Kane reports for The Globe and Mail. “But Apple Music is catching up at an impressive clip: Since its launch, it’s signed up 56 million users.”
“Long-time music industry analyst Mark Mulligan has watched Apple elbow its way into streaming, and has noted an emphasis on service businesses that could see Apple Music’s visibility grow further,” O’Kane reports. “Apple doesn’t share country breakdowns, but according to an analysis by Mr. Mulligan’s firm Midia Research, Apple Music pulled ahead of Spotify in the United States, the No. 1 recorded music market, in 2018 – with Apple at 26.3 million users and Spotify at 25.5 million.”
Read more in the full article here.
MacDailyNews Take: Sleep tight, Spotify.