With over 20 Million paying consumers in the U.S., Apple Music has just overtaken its rival Spotify to lead the race in an all-important sector, the media claimed this week. Spotify still has a lead outside of the U.S., totaling 75 Million users as fraction of its first profit report in May 2018.
“We have a report claiming the user totals of various streaming music services, comprising Spotify, Apple Music, Sirius XM, and Tidal. That report now places Apple Music in the lead in the U.S., at least amongst majorly on-demand music streaming offerings,” claimed the Digital Music News this week.
The data for this year displays that Apple is undergoing a far sturdier rate-of-development in the U.S., recommending a broader lead over in the months to come. Consumers on trial period were not fraction of the evaluation, the report claimed. Apple Music now has over 45 Million users all over the world, with an extra 5–10 Million free trial users. The free trials of the iPhone maker last for almost 3 Months while Spotify claims it has over 70 Million paying users all over the world, with almost 160 Million overall consumers.
On a related note, in 2017, Spotify and Tencent did a share swap, taking a predictable 9% non-controlling interest in the each other. Spotify claimed to the investors, “We think that the Tencent Transactions permit us to spend in the long term capability of the Chinese music market. In turn, the deal will permit TME to spend in the long term capability of the music market besides China.”
Apart from opening up possible new chances for both firms, the stock agreement aligned 2 of the top music streaming services in the world in future licensing deals with music publishers and labels. This might change the course of the music streaming services in the coming period.