A new report shows that 10 million users are paying for Apple Music, breaking the record previously held by Spotify. The only difference is that Spotify reached this number in six years while for Apple Music it only took six months.
Apple Music, a service of music streaming, has been launched last year in June in more than half of the world’s countries.
Midia Research analyst of music industry Mark Mulligan says the fact that streaming is working is good news in a way. But in another way if might not be as great for the music industry after all as the download’s rate is decreasing. If Apple’s ascension continues at the same speed it might become the leader in the industry of music streaming by 2017.
Streaming is soon expected to become the dominant digital consumption of music. Album sales decreased with nine percent in the United States in 2014 while individual track downloads have also fell 12 percent. At the same time subscriptions to music streaming services increased over 50 percent, with 164 billion tracks streamed over the year.
Market leaders are definitely Spotify and Apple. However, other services are also gaining more power. The French streaming service Deezer reached 6.3 million users. The artist-owned streaming service Tidal, led by Jay Z hit 1 million users last October.
The Swedish company Spotify is definitely the current leader of the market, valuing over $8 billion. The company reached 10 million subscribers in 2014 when it had a total of 40 million active users. Spotify kept growing since 2014. In June last year the company announced it hit 20 million paying subscribers, having over 75 million monthly listeners.
Since June Spotify has probably kept growing as shown by the downloading stats in App Store. Last weekend Spotify App was ranged the third top-grossing app in the U.S. App Store, showing that many Apple users are subscribing to the services of the competition.
Analysts expect Apple to become more and more focused on music this year, with new device launchings. The company has already announced that the next generation of iPhone won’t include the 3.5mm headphone jack, replacing it with headphones connected directly to its Lightning port, already used for charging and data transfer. This change is expected to improve the sound quality but also to encourage the transition towards wireless headphones connected through Bluetooth.
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