Apple Music Passes 20 Million Subs
Apple’s SVP of internet software and products Eddy Cue has confirmed to Billboard that the company’s music streaming service has amassed 20 million paid subscribers.
It’s no small jump for the service, growing 15% on September’s 17 million subs.
According to Cue, “the vast majority are new customers” who have not purchased content from the iTunes music store in the 12 months before subscribing to the company’s service.
He says the company “were thrilled to see that we could take [artists’] passions and drive them all the way to No. 1. Chance the Rapper, who we put on Apple Music exclusively, hit the top 10 on the Billboard charts [based on streams alone], and I can’t recall that being done before.”
While Apple Music has garnered acclaim from customers, it still lags behind Spotify’s 40 million paying subscribers.
That said, a holiday-season could make the difference when it comes to closing that gap.
According to Digital Music News, Apple is said to be mulling a potential price drop of up to 20% for their Apple Music streaming service in a bid to close the gap on major rival Spotify.