Apple Music continues to grow, but aims for 2 billion subscribers
In the world of streaming music, it’s really down to Apple Music versus Spotify. The latter has won all the matches in metrics so far, but that’s not to say that what Apple has isn’t impressive.
This week at the South By Southwest festival in Austin, Apple’s internet services chief Eddy Cue announced that Apple Music had 38 million subscribers, That number is up 2 million in just about a month. Taking a wider view, Spotify’s subscriber growth rate still outpaces Apple Music’s — the Swedish company saw 10 million subscribers join in the span of about 4 months. Meantime, it has taken 5 months for Apple Music to gain 8 million subscribers.
CNET reports that Cue is looking to a market of about 2 billion customers who can access and pay for streaming rights, a far cry from Apple’s and Spotify’s current combined reach of barely over 100 million. And with Spotify’s 159 million free listeners who also listen to ads, it’s clear that this new concept of radio may have a long ways to go before saturation.
The executive also talked up the company’s announced acquisition of magazine aggregator Texture and played down any thoughts of acquiring Netflix or other media players, saying that Apple’s own $1 billion budget for original content this year is plenty good enough.