Apple Music Breaks 10 Million Subscriber Mark
Six months after the launch of the subscription streaming service, Apple Music marks its first major milestone with a customer base of over 10 million paid subscribers. Hypebot reports that the news initially broke as labels received their first full royalty payments from Apple. The current numbers bode well for Apple's subscriber growth projections heading into the close of 2016:
News that Apple Music was doing well began to trickle in as labels received their first full royalty payments from the service since it's initial 90 day trials. Several sources told Hypebot that they received checks bigger than expected.
Spotify, Deezer and early players like Rhapsody certainly paved a path. But Apple Music is bringing streaming music to the masses with growth fueled by Apple's marketing power and huge customer base who all woke up 6 months ago to find the Apple Music app loaded onto their tens of millions of iPhones and other Apple devices. Industry analyst Mark Mulligan has predicted that Apple Music will pass 20 million paid user by the end of 2016
Apple's success in growing its user base of paid subscribers is likely to put a decent amount of pressure on competitors like Spotify and other popular streaming services.
Spotted at HB.