Apple Music might soon surpass Spotify in paid subscriptions: Report

If Apple continues to gain subscribers at this rate, it might surpass Spotify in the US this summer

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Highlights

    • Apple Music paid subscribers adding to 5% a month in the US
    • It currently has 36 million paying subscribers globally
    • Spotify at present has nearly twice as many paid subscribers as Apple

Spotify with 70 million paying subscribers earlier this year took the first spot in streaming services, placing Apple Music in the second. But Apple’s music & video streaming service might soon overtake Spotify with its increasing subscriber rate.

Apple Music currently has 36 million paying subscribers around the world, a significant increase from 30 million users reported in September last year. As per a report in the Wall Street Journal, Apple’s music service is gaining higher rate in the United States. While globally Spotify takes the lead, Apple music is growing at a faster pace in the US gaining 5 percent per month compared to former’s 2 percent a month.

android-2941164_640The US is the largest market for music streaming, and if Apple continues to gain subscribers at such rate, it might surpass its rival on the home turf this summer. Engadget notes that Apple’s trial period is another reason for catching up on Spotify. The users who sign up for Apple Music three-month trial have the option either to pay or cancel.

Nonetheless, Spotify has still managed to increase its user base by 16 percent if you take an account of the past seven months. The Swedish company till date has nearly twice as many paid subscribers as Apple. The WSJ cites that Apple Music growth has stoked up in part by its devices. And with the new smart speaker, HomePod that was released last week, it might have another channel to reach the masses. Notably, both Spotify and Apple Music offer plans ranging from $9.99 (individual plans) up to $14.99 (family plans sharable with up to six people) per month.