Date
25 May 2018
Launched in June 2015, Apple Music currently has a catalog of about 45 million songs. Photo: Bloomberg
Launched in June 2015, Apple Music currently has a catalog of about 45 million songs. Photo: Bloomberg

Apple Music may overtake Spotify in US market: WSJ

Apple Music appears set to overtake top rival Spotify in the US market in terms of paid subscribers, according to the Wall Street Journal.

Citing people familiar with figures reported by the two streaming-music services providers, the paper reported that Apple Music has been growing its subscribers in the United States more rapidly than its Swedish rival.

According to the report, Apple Music had monthly growth rate of 5 percent in US paid subscribers, while the comparative figure for Spotify was at 2 percent.

If the pace continues, Apple will overtake Spotify in the world’s biggest music market this summer, the Journal said.

Apple’s music-streaming service has been quietly gaining ground as Apple Music comes preloaded on all iPhones, Apple Watches and other gadgets sold by the US tech giant.

Globally, however, Spotify remains the big gun, with nearly twice as many paid subscribers as Apple, and also witnessing slightly faster subscriber growth, the report noted.

The Swedish firm said last month that it had 70 million paid subscribers around the world. Apple, meanwhile, told the Journal that its music service now has 36 million paid global users.

Both the firms don’t publicly break out figures by country, so one can only make an informed guess as to their exact US paid subscriber numbers.

Apple Music was launched in June 2015. According to comScore statistics last November, US users liked using Apple mobile phones the most, which made Apple take a market share of 44.8 percent.

Spotify is currently preparing for a listing on the New York Stock Exchange.

This article appeared in the Hong Kong Economic Journal on Feb 6

Translation by Jonathan Chong with additional reporting

[Chinese version 中文版]

– Contact us at [email protected]

JC/RC

EJI Weekly Newsletter

Please click here to unsubscribe