Tim Cook, Apple CEO, just gave the world an update on its streaming music service Apple Music. At the end of its 90-day free trial period, the tech giant has successfully nabbed 6.5 million paying subscribers. Apple Music was rolled out in June so October presents the first full month of operations post-trial period. Cook noted that there are 8.5 million users still on the free trial, The Verge reported.
From a purely numbers perspective, this is not bad at all. Apple Music has gone head to head with Spotify which boasts a robust paying customer base. However, a deeper analysis makes Apple Music look like it is playing catch-up to a service that has been in place for years now. The 3-month trial period totaled 15 million users, significant, yes, but still less than Spotify, which has 75 million active users and 20 million subscribers.
What is more worrisome is that it is older folks who seem more willing to pay up than Apple's oft-touted millennial user base. Quartz noted that after the free trial period ended, 62% of users under 35 years old cancelled their subscriptions. Since it is also likely that many people simply forgot to cancel their subscription, October figures may actually be more skewed than earlier thought.
The difficulty of entering the streaming music market would seem like a no-brainer for the likes of Apple. However, the glaring reality is that many people have already grown comfortable using, and paying for, Spotify Premium. Surveys have pointed to Apple Music's new music discovery feature, as well as iOS integration, as the bases for sticking with Apple Music, Time reported.
A little bit more time is needed to assess the real popularity of Apple Music. But until then, Cook himself seems pleased enough with the results so far. He was even quoted saying, "It's going really well." He also added, "Fortunately, lots of people are liking it."
How well do you like Apple Music? Is it better than Spotify? Weigh in on this latest Apple feature by sharing this article!
