Apple Music hits over 30 million subscribers

Apple Music hits over 30 million subscribers”

Apple Music tells Billboard that it now counts well over 30 million paying subscribers, helping fuel a 17 percent revenue jump for the USA recorded-music business in the first half of 2017 over the same period a year ago, according to the RIAA.

As for the biggest challenges facing the music industry, Iovine notes that it's tough to compete with the wide array of free music options from the likes of YouTube, Pandora, and even Spotify's free tier.

Looking ahead, Apple investors should hope the company can kick its Apple Music efforts into high gear, as services are becoming increasingly important to the company's business. But based on the two companies' most recent updates on subscriber growth, Spotify seems to be growing faster. However, unlike most other markets Apple is in, where the company quickly takes control, it's been unable to unseat Spotify. Apple Music has also been pushing exclusive releases to drive its subscriber growth.

Between Apple and Spotify, the former doesn't have a free subscription plan. A spike in new paid Apple Music subscribers, therefore, should have been expected. Beyond Apple's three-month trial period, the company doesn't offer a free version of Apple Music. Spotify is aiming to file its intention to float with USA regulators towards the end of this year in order to list in the first or second quarter next year, one of the sources said.

More news: Orange Shirt Day helps schools teach residential school history

Furthermore, Apple has seen a boom in all paid subscriptions across its services offerings, suggesting consumers have a strong appetite for digital subscriptions.

Spotify, in other words, was adding about 2.5 million subscribers per month between March and July. Worldwide, music streaming revenue leapt 60.4 percent in 2016, lifting recorded music sales for the second consecutive year after 15 years of decline during which revenue dropped by almost 40 percent, according to data compiled by the International Federation of the Phonographic Industry. Paid music subscriptions in the U.S.

Apple Music has managed to almost keep pace with Spotify's growth rate, racking up an average of 15 million subscribers per year, compared to 20 million for Spotify over the past two years. Since the app is available on both Android and iOS, the company recently made all the features from iOS app available onto Android app.

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. That's right - they think these 10 stocks are even better buys.

Like this



29 September 2017
Washington state AG Bob Ferguson, Seattle sue OxyContin maker over opioid deaths
Ferguson said this will not be the only lawsuit the state will file in relation to the opioid epidemic. Dennis said this should never have happened to her son, it's not the life he was supposed to have.

29 September 2017
Tigers sign son of Pedro Martinez to minor league deal
Dominican journalist Dionisio Soldevila reported that Martinez signed for $800,000 , plus a $300,000 scholarship. The elder Martinez won two Cy Young Awards with the Boston Red Sox and one with the Montreal Expos.

29 September 2017
House members back at negotiation table over proposed cigarette tax
Echols said lawmakers will stay at the Capitol with committee meetings, and behind-the-scenes budget negotiations continue. Thompson said he will only support plan that is bipartisan, revenue-neutral, and "built from the middle class out".

29 September 2017
SCANA Corporation (NYSE:SCG) Hits 'Oversold' Based on Its RSI
The company reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.92 by $0.05. Stocks with beta's lower than 1 are less risky than the market while those with a higher beta are more risky than the market.

29 September 2017
Betsy DeVos Speaks at Harvard Amid Protests
More than a dozen protesters stood in the crowd holding signs reading "protect survivors", and "our students are not 4 sale". She was confirmed in February when Vice President Mike Pence cast a tie-breaking vote in the Senate.

29 September 2017
European Commission warns social media sites to act faster on hate speech
And the Commission says time frames may need to be established for how quickly illegal content is taken down once it's discovered. On Thursday, the commission reported that, 28 percent of the time, platforms take more than a week to remove "illegal content".

29 September 2017
Scientists find shock wave from collision of black holes
This time stands out against the others because the researchers have been able to determine its origin with more precision. David Shoemaker is the spokesman for LIGO and research scientist of the Massachusetts Institute of Technology.

29 September 2017
Bassett Furniture Industries, I (NASDAQ:BSET) Trading Volume Significantly Lower
This cash is what a company uses to meet its financial obligations, such as making payments on debt or to pay out dividends. New York-based Goldman Sachs Grp Inc has invested 0% in Bassett Furniture Industries Inc. (NASDAQ:BSET) or 6,400 shares.

29 September 2017
Pence says there's 'lot of consensus' around tax overhaul
GOP leaders are feeling really good and confident on a new tax reform project and Thursday Vice President Mike Pence met with local business leaders, community officials and Wisconsin families to discuss that reform.

29 September 2017
Beyoncé Just Released a New Song and Proceeds Go to Hurricane Relief
The Houston native donated to relief efforts after Hurricane Harvey hit, and she encouraged her fans to do what they could to help.