Apple Music Surpasses 60M Subs
According to Eddie Cue Apple now has 60M worldwide subscribers. This benchmark is significant because they claimed to have 50M subs in January – which means they’re on a 20M annualized growth rate.
While 60M is an impressive number to be sure, there are a few asterisks to consider. First, it’s a global number and we don’t know the US-only breakout. Industry experts assume Apple’s US footprint is more than half their worldwide total, so maybe 35M of the 60M are domestic? The other thing to consider is that Apple’s sub count also includes free trial listeners. Since not all free trials will convert to full paying listeners, their 60M is at risk of contracting a bit.
Apple continues to chase down Spotify, who has a self-reported 100M worldwide subs. For the past year Apple Music has been growing faster than Spotify, and as of April Apple suprassed Spotify for US subs. Given Apple’s nearly unlimited cash reserve, you get the feeling they can give away free trials for as long as it takes to eventually surpass Spotify.