Apple Music will reportedly reach about 8 million subscribers by the end of the year and 20 million by the end of 2016, according to business analyst Mark Mulligan.
In Midia Research's new 'Predictions for 2016' report, Mulligan says that Apple Music "went from zero to the No.2 streaming service in a matter of months in mid-2015". While growth is said to have slowed, the service is still expected to reach just under 8 million subscribers by the end of the year.
Apple Music was also predicted to reach 20 million subscribers by the end of 2016. Though that might not be enough to catch Spotify, Mulligan says it will solidify the platform's position at number two.
“The wildcards in the equation are whether Apple can do a better job of pushing users from iTunes Radio to Apple Music and what happens when Spotify restates its subscriber number to reflect the impact of $1 a month 3 month trials,” writes Mulligan.
Comment on the report, Mulligan told Music Business Worldwide, “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. If Apple finds growth tough going, expect it to throw everything it has got at getting the labels to agree to lower price point products so it can open up large chunks of the iTunes music customer base.”
Hit the link below for more details...
Read More [via Lee]
In Midia Research's new 'Predictions for 2016' report, Mulligan says that Apple Music "went from zero to the No.2 streaming service in a matter of months in mid-2015". While growth is said to have slowed, the service is still expected to reach just under 8 million subscribers by the end of the year.
Apple Music was also predicted to reach 20 million subscribers by the end of 2016. Though that might not be enough to catch Spotify, Mulligan says it will solidify the platform's position at number two.
“The wildcards in the equation are whether Apple can do a better job of pushing users from iTunes Radio to Apple Music and what happens when Spotify restates its subscriber number to reflect the impact of $1 a month 3 month trials,” writes Mulligan.
Comment on the report, Mulligan told Music Business Worldwide, “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. If Apple finds growth tough going, expect it to throw everything it has got at getting the labels to agree to lower price point products so it can open up large chunks of the iTunes music customer base.”
Hit the link below for more details...
Read More [via Lee]