Apple Music is showing no sign of slowing down in the music streaming space. Apple’s music streaming service is continuing to pick up more subscribers for the fight against other competitors. According to Apple, Apple Music officially hits 20 million paying subscribers, up from the 17 million subscribers reported back in September and the number continues to grow in the upcoming months.
Apple Music serves as Apple’s strategic plan to challenge other competitors in the industry including Spotify, Tidal and Amazon. However, Apple Music still lags behind its main rival Spotify, which has more than 40 million subscribers. According to tech experts, Apple Music is closing the gap each year. Spotify has attracted 12 million subscribers, while Apple Music has managed to rope in 10 million. Last year, Spotify finished with 28 million, while Apple Music ended with 10 million only six months after the launch.
It has been 18 months since Apple Music was officially launched to the public and it is now available in more than 100 countries with more than half of its subscribers living outside the US including Japan, Russia, China and Brazil. Spotify, on the other hand, was launched in 2008, and it took a while to reach milestone. Spotify reached 40 million paying subscribers on September and it seems like that number has jumped up a little bit since then.
Apple has been trying to attract more users. Last week, Cupertino-based Company has recently expanded its Apple Music student pricing program in 25 additional countries following the launch of the service in several major markets including US, Australia, Denmark, Germany, Ireland, New Zealand, and the United Kingdom. Accordingly, Apple reduces the price of its subscription by almost 50 percent for university and college students.
Competition among music streaming providers is getting more intense this year. Pandora is showing no sign of ceasefire. In September, the Company launched Pandora Plus in order to compete with other streaming services in the market.
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