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Will Apple Music service shut down Spotify in Near Future?

On Quarterly Earning call day Apple’s CEO Tim cook unveiled Apple Music streaming service, which had currently 13 Million paid subscribers. Since, its launch on June 30, 2023 the service took a long step towards the success. The service has added 2 million paid subscribers since February when the company announced 11 million subscribers. Now, it’s time for the competitors like Spotify and Pandora to come up with the best plans to compete with the Apple Music. Spofity, the leading music service provider since its launch has attracted just 30 million paid subscribers in March 2016.

The 10 month old Apple Music streaming service is undoubtedly giving a tough competition. With such a fast growth, soon the tech giant Apple music service is going to shut down Spofity as it is given that Apple has over 1 billion users on iOS. Well, the extensive marketing strategies of Apple will definitely bridge the gap in these digits between Apple and Spofity. Mr. Cook said, the service generated $9.9 billion in this quarter with a hike of 37 percent each year.

Spotify Reaches To 100 Million Subscribers Since Launch of Apple Music Streaming

Apple Music service is promotion continued by releasing videos and songs of famous artists. Recent video of Apple music service, Taylor Swift vs Treadmill was the most viewed endorsement on internet. However the iPhone sales have reportedly come down. The company is right now working on the service parts and service business like iTunes, Apple Pay, Apple Music, iCloud.

“Our team executed extremely well in the face of strong macroeconomic headwinds. We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices,” Mr. Tim Cook said.

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Apple Music service is priced $9.99 per month which close to Spofity service. Well, Spofity is priced just $4.99 for Students whereas this not available in Apple music service. Apple music service bugs can be cleared only when iOS is updated. Spofity updates directly from the app store. Besides three month of free trail, the company is planning to start a new TV show starring Dr. Dre, as a part of advertising exclusive content on its music service.

Apple music streaming service has no major updates since its launch. According to the experts in the field, the company may add few new features during the World Wide Developers Conference which is scheduled for June. A dominant player in market of many countries has surprisingly managed to become one of the leading music services before its first anniversary, on June 30.

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Spotify Reaches To 100 Million Subscribers Since Launch of Apple Music Streaming

Spotify has now extended a faster growth in Music Streaming Service, although its rival company Apple launched it Stream Music in last June.

The company’s vice president Jonathan Forster says it has reached nearly 100 Million Subscribers on streaming Music. Spotify VP also said Reuters that the corporation has 30 Million ‘Premium’ users.

The Swedish company which found ten years ago is now getting close to 100 million users in 59 markets even with the increasing competition.

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“It’s great that Apple is in the game. Just in case, we are raising the profile of Music Streaming. It is hard to build an industry on your own,” Jonathan Forster, a vice president and one of its first employees, told Reuters in an interview.

“Since Apple Music started we’ve been growing quicker and adding more users than before.”

“It would be terrible if we were just taking each other’s users or to learn there was just a ceiling of 100 million users - I don’t think that is the case,” said Forster, who had just returned to Stockholm from the Coachella Valley Music and Arts Festival in California.

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Although Spotify has 30 million paying subscribers in just 59 markets making a mark in music streaming, whereas Apple Music has only 13 million paying subscribers over 100 countries.

And also, the Spotify faces competition from newer rivals apart from Apple, such as Pandora, SoundCloud, Jay Z’s Tidal in meanwhile Google’s YouTube and Play Music. Spotify VP also mentioned multiple streaming services wasn’t sustain in long run.

When Reuters ask on acquisition possibilities, Foster clearly said future purchase on similar scale depends on the recent deals whether to bring on new teams and Technology.

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“I wouldn’t be surprised to see Spotify continue to invest in areas that are relevant or adjacent to our business,” he said. Revenues will automatically come from subscription, but Spotify also hunts on concerts, merchandising and video, but we are not trying to be a Netflix.

Spotify launched on Monday a new video expressing the inclusion of video artist (behind the scenes).

When asked about acquisition target, VP told Spotify will always prefer to be “Spotify,” we are happy with what we are doing now. We have seen people are waked up on the opportunity on streaming which we believe this is just the beginning.


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