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Apple Music: Users Paying Monthly $9.99 Subscription Total 6.5 Million

Image: Apple Music: Users Paying Monthly $9.99 Subscription Total 6.5 Million
Apple CEO Tim Cook speaks to members of the media at an Apple press event in San Francisco, California on March 09, 2015. (Josh Edelson/AFP/Getty Images)

By    |   Tuesday, 20 Oct 2015 01:57 PM

Apple Music, the streaming service launched in June, has netted 6.5 million paying subscribers after offering a free-trial period this summer.

"It's going well," Apple CEO Tim Cook said late Monday, USA Today reported.

Beyond the paying subscribers, Cook reported that Apple has 15 million total users, with those not paying the monthly $9.99 subscription fee continuing to use Apple Music's free features, like Beats 1 Radio.

Spotify, Apple's chief rival that first launched in 2008, has 20 million paying subscribers and 75 million subscribers overall.

Daniel Ives, an analyst with FBR & Co., said that, "Now the goal is for Apple to further spread the gospel to/convert more trial customers over the next three to six months while adding unique content and services."

According to Richard Windsor, an analyst at Edison Investment Research, Apple's music subscribers are worth an estimated $780 million in annual revenue.

"However, how many users have forgotten to cancel the service and will do so after the first month when they receive the bill is unclear. Either way, this is pretty good performance and implies that around 60 percent of users who trial the service go on to pay for it," he commented.

The Wall Street Journal reported that Cook also announced that the newly-redesigned Apple TV device — $149 — will be available for pre-order on Monday, and will begin shipping to customers by the end of next week.

"Linear TV is going [away]," Cook said in speaking about the TV device. "The channel-watching experience is going away."

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Apple Music, the streaming service launched in June, has netted 6.5 million paying subscribers after offering a free-trial period this summer.
apple music, users, subscription, paying, monthly
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2015-57-20
Tuesday, 20 Oct 2015 01:57 PM
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