Apple has confirmed that it has over 40 million subscribers to it’s service. They have a way to go, as Spotify has 70 million paid Premium users, but the mega company Apple has he resources to surpass it. A report in The Wall Street Journal earlier this year suggests that Apple Music’s faster growth rate (5% vs Spotify’s 2% growth) could mean it surpasses Spotify as soon as this summer, however they need to really amp up it’s growth if it wants to accomplish this goal.
For Apple to continue to lure away Spotify Premium subscribers, they’re going to have to continue to focus on intuitive app design, an area where Spotify is still holding the high ground. With Spotify going public last month to a hefty market cap of $28 billion, it’s clear that the company has the resources to fight back for the market share and stay ahead of Apple.
An area where Apple’s $9.99 per month service is undoubtedly succeeding is in the intimate tie between its audio hardware and Apple Music. Users of the HomePod and AirPods gain essential functionality for music playback only if they are subscribers to Apple Music.