Apple Music Now Has 50 Million Subscribers

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Back in April, it was revealed that Apple Music had 40 million subscribers. 1.5 months later, the service now has over 50 million subscribers as revealed by Apple’s CEO Tim Cook.

Cook made the revelation in an interview with Bloomberg Television. He did not reveal the number of paying subscribers, though it is important to note that unlike Spotify Apple does not offer a free streaming option. Instead, it only offers a three-month trial after which users are required to pay a monthly fee of $9.99 to enjoy the streaming service.

Up until last month, Apple had 48 million Apple Music subscribers, with around 40 million of them being paid users. Apple’s music streaming service has been growing at a steady rate, though it continues to lag behind that of Spotify — the world’s largest streaming music provider. The latter has 75 million paid subscribers, with its total user base being well upwards of 170 million.

During the interview, Cook also expressed Apple’s intentions of making a strong push into streaming video and original TV shows business, though he did not provide much details in this regard.

Cook indicated that Apple will make a stronger push into streaming video and original TV shows and movies but declined to provide specifics. “We are very interested in the content business. We will be playing in a way that is consistent with our brand,” Cook said. “We’re not ready to give any details on it yet. But it’s clearly an area of interest.”

Our Take

The growth of Apple Music comes at a time when Apple’s Services sector has started making a significant contribution to its bottom line which also includes the likes of App Store, iTunes Store, iCloud Storage, and more. This is important for the company as it expects its Services category to become a major revenue maker in the coming years on the account of slowing iPhone sales.

[Via Bloomberg Television]

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