Each new streaming service that enters the fold will be battling an increasingly uphill battle for relevance. Apple Music has reportedly reached 10 million subscribers after only six months of public availability. Apple Music has reached that number eight times faster than it took Spotify to hit that same number. However, Spotify still has the top spot with 20 million total users. Insiders believe Spotify will likely reveal a new user total in an effort to distance itself from the rising streaming service.
The six month mark is particularly important to Apple Music, as its well outside of their three month trial period, and therefore not subject to suggestions that their subscriber numbers are inflated by non-paying users. This is an important part of the competition between the two companies, as Apple Music’s first set of royalty checks are apparently surprisingly large, while Spotify has repeatedly come under fire for poor royalty payments.
Apple has been making moves to sturdy its position in the streaming music marketplace by recently shutting down Beats Music, which Apple had previously bought in January 2014 for $3.2B. They have also continued to outpace Tidal in its number of high-profile exclusive releases, including Dr. Dre’s Compton.
Since hip hop is the most streamed genre in the world, y'all must be using one. Let us know which streaming service you think is here to stay in the comments.
