Date: Friday, December 18th, 2015, 06:34
Category: Apple Music, News
The estimates are in and they’re impressive.
According to music business analyst Mark Mulligan, Apple may have 8 million Apple Music subscribers by the end of 2015 and 20 million by the end of 2016, thereby making it the second most popular streaming music service behind Spotify.
“Apple might not have found the subscription market quite the plain sailing it had anticipated but it has still managed to establish itself as the second player with astounding pace. Its platform and marketing assets are well known, but its clear commitment to making Apple Music work have surprised some.”
Mulligan stated that while the exact numbers are unknown, Apple’s three month trial subscription went well and pulled in a core audience.
If the analyst’s estimation of 8 million Apple Music subscribers by the New Year becomes true, that would be about 1.5 million growth during the fall, after Tim Cook confirmed the service had 6.5 million in October. Normally $10/month, Mulligan believes if Apple has trouble with getting subscribers to stick around, they could return to convincing record labels in lowering that monthly cost.
At present, Apple is tying in its Apple Music service with third-party products, including a beta for Sonos speakers that brought support for the streaming music service onto the speakers for the first time. The company also recently announced a project with Taylor Swift that will include a made-for-Apple Music concert film debuting on the service this Sunday, December 20. Recently, Apple began rewarding its retail workers with gifts for the holidays, which included a free nine-month subscription to Apple Music.
In short, next year will be an interesting one for Apple Music.
Stay tuned for additional details as they become available.