In October of last year, there were 6.5-million subscribers to Apple Music, now the service has doubled that number as there are now 13-million subscribers to the tech giant’s popular music business. As of late, the company, who is also known for a bunch of known products in the tech industry such as the iPhone and iPad line of gadgets, continues to catch on with more people.
Apple Music Doubles the Number of Subscribers in Just 6 Months
Apple Music is the company’s first attempt at the music streaming business and it now has approximately 13-million paid subscribers. Tim Cook, Apple CEO, stated on Tuesday during a conference call in order to talk about the firm’s fiscal second-quarter results. He had cited about the new number of subscribers who are continuously opting for the tech firm’s music streaming service. Cook states that the service continues to grow in popularity to this day.
According to a transcript of the earnings call from Seeking Alpha, Cook said, “We feel really great about the early success of Apple’s first subscription business, and our Music revenue has now hit an infection point after many quarters of decline.”
Apple Music competes with Spotify, and other music streaming services just to get a slice of the pie of the growing music-streaming sector. As they offer their own music streaming services for iOS devices, the Cupertino-based tech giant hopes to sell even more iPads and iPhones. As the company is able to sell more iOS devices, it would mean that more users, would in turn, purchase more products and services from iTunes.
Apple’s music sector has never been known to be their number one moneymaker. However, it would seem that the firm is about to change the tides of the fate of their own music sector due to the growing popularity of their music streaming service.
Luca Maestri, Apple Chief Financial Officer, stated on Tuesday about the following: “It’s interesting for us that our Music business, which had been declining for a number of quarters, now that we have both a download model and a streaming model, we have now hit an inflection point, and we really believe that this will be the bottom and we can start growing from there over time.”
Apple Music was released in June of last year and it offers music streaming with playlists that are curated by “music experts.” There is even a radio station call Beats 1 which operates 24/7, as well as a social feature called Connect.