Apple music has hiked up its subscribers’ list by 2 million in just a month. It now has a total of 38 million subscribers.
The company’s senior vice president, Eddy Cue, announced at the South by Southwest Conference and Festivals the new number for the music streaming service. At SXSW, the vice president also made statements regarding the company’s acquisition of Texture, a digital magazine distributor.
Apple, for years, combated the subscription streaming music model as its music app iTunes dominated sales of music downloaded digitally. But as streaming music raised to become the keyway consumers listen and make payment for music today, Apple Music hiked with more number of subscribers than any other competitors other than Spotify.
Downloadable software Spotify has a total of 71 million payment making members and 159 million people who make use of the service for at least once a month, the company stated last month in its filing to become a publicly traded company. Spotify relishes an advantage with an ad-supported free tier that rivals like the Apple Music lack. To propel members, the Apple Music has relied on excellent marketing and exclusives for the top albums along with the very important benefit of the millions of iPhones in the pockets of customers.
At the time of his appearance at SXSW, Cue defined a large pot of subscriptions of streaming music still up for grabs. He stated that the world has nearly 2 billion potential subscribers who possess the access as well as the means to make payment for streaming music, but subscribers of Apple Music and Spotify have together made up to a little more than 100 million.
He also put forth another suggestion that the company might buy Netflix, even as it mounts up a large apparatus to make its own original movies and shows. Cue stated that the company is “completely all in” on its plan of content that includes a budget of 1 million dollars for originals. He asked whether Apple which has a massive 283.1 billion dollars in cash reserves will purchase a big media production such as Disney or Netflix. He then dismissed the plan and said the company is not running after quantity.