Apple Music on verge of overtaking Spotify in paid subscribers

Angelica Greene
February 6, 2018

The battle between Spotify and Apple Music has raged for nearly three years.

The company has confidentially filed for an IPO with USA regulators, according to a source familiar with the matter. While globally Spotify takes the lead, Apple music is growing at a faster pace in the U.S. gaining 5 percent per month compared to former's 2 percent a month.

Apple's music streaming platform launched almost three years ago and since then, the company has not rested one bit when it comes to adding new features and functionalities to the platform.

Spotify is only growing at about 2% every month in the USA, while Apple is growing at a much faster 5% per month. It appears that the achievement will be completed after three years, if both music streaming services retain their current growth rates.

Apple 's music service continues to grow at a healthy pace: Apple Music has reached 36 million subscribers worldwide, an Apple spokesperson confirmed to Variety Monday. That's because it has three to four times as many trial users as Spotify since it automatically signs people up to a three-month trial.

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But globally, Spotify stands alone.

In the race for global music streaming supremacy, the gap between Spotify and Apple Music is getting smaller.

However, neither company publicly discloses its country-level subscriber numbers.

Which streaming service do you use?

Apple has a chance to regain some ground in the streaming wars thanks to its new HomePod smart speaker. As it has been recently detailed in a new report, Apple Music's subscriber count will surpass that of Spotify in the United States this year. What's more, the Swedish service is also preparing to launch an initial public offering (IPO) and Apple's success is only going to dampen the prospect of a huge valuation. That means Spotify will not sell shares at a price set by underwriters but simply at a market-determined price.

Other reports by GizPress

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