Apple music surpasses 40 million subscribers
Apple Music is finally starting to gain popularity as the music streaming service now has 40 million paid subscribers. It still far behind the current leader Spotify which has 70 million paid Premium subscribers. But the recent growth ratio of Apple Music has been better than that of Spotify. If this continues then it might soon become the market leader.
Apple Music has been competing very aggressively
Apple earlier announced it is planning to produce original television shows and movies to compete with Spotify, which announced a joint content bundle with video service provider Hulu.
In December, Apple confirmed it is buying music-identification app Shazam, for a reported price of roughly $400 million.
Users of the HomePod and AirPods gain essential functionality for music playback only if they are subscribers to Apple Music. Thus apple’s $9.99 per month service is benefited by the link between its audio hardware and Apple Music.
Apple Music got a new Vice President
Oliver Schusser has been appointed vice president of Apple Music and international content. Schusser has been at Apple for 14 years, previously leading efforts outside the U.S. on content efforts surrounding the App Store. He will report to services head Eddy Cue. International market has a very high potential, especially Asia which is a witnessing an advanced technological development era.
His experience is very much required as the company is facing stiff competition. Spotify is not the only competitor, Amazon Prime Music and SoundCloud are also big names in market.
Spotify is not going to loose is leadership so easily
It has an intuitive app design and an intelligent user recommendation engine, which is its USP. This has given it its 70 million paid Premium subscribers. Spotify went public last month with a strong market cap of $28 billion, making its intensions very clear.
The Music App industry has been growing rapidly and it has a very bright future. Apple surely has its eyes set on the numero uno spot.
