Apple Music

Apple Music Surpasses 10 Million Subscribers

Next Story

Why Bitcoin Can’t Help The Poorest – Yet

Apple Music has surpassed 10 million subscribers, according to a report from the Financial Times. Showcasing rapid growth, the number is a 50% increase from the 6.5 million paid subscribers that CEO Tim Cook claimed in October.

Apple launched its music streaming service last June, offering free three-month trials (Apple Music for Android launched in November). Those who didn’t cancel the service began paying $9.99 per month to remain subscribers.

The digital music platform draws similarities to Spotify, which now boasts over 20 million paid members. Both services offer unlimited streaming at similar price points — Spotify Premium costs $10 per month.

Pandora, which is also in the online music arena, has more than 78 million monthly active users, but only 3.9 million paid subscribers. But the services are fundamentally different, with Pandora focused on customized radio listening.

Apple has made various attempts to remain competitive in the digital music world. Streaming services have taken away business from iTunes, so Apple Music is an effort to keep a stronghold in the online listening space.

The company acquired Beats Electronics for $3 billion in 2014 and shut down its name-bearing music service last fall.

Apple has not responded for request to comment.