Perhaps back in the day when other music services weren’t as popular, Apple’s iTunes was considered the king of the hill. This was further exemplified by Apple launched iOS devices in which iTunes played a bit part of in terms of its ecosystem, but it seems that Apple’s initial unwillingness to launch a streaming platform could lead to Spotify overtaking it in terms of revenue.
According to Spotify’s head of label relations in Europe, Kevin Brown, it seems that there is a good chance that Spotify’s revenue in Europe could soon over surpassing that of iTunes. Speaking to the folks at MusicWeek, Brown was quoted as saying, “Some of our partners are saying Spotify is now generating more revenue each month across Continental Europe than iTunes.”
Spotify also recently announced that they are approaching the 10 million paying users mark and have added more than 1 million active users in the past four months which is admittedly a pretty impressive feat. According to Brown, “Given that download sales are declining and Spotify is growing rapidly, particularly in the UK, it is only a matter of time before Spotify is bigger than iTunes across Europe as a whole.”
Apple only launched iTunes Radio back in 2013 alongside the release of iTunes 11.1. The service is expected to compete against the likes of other streaming services, such as Pandora and Spotify, but if Spotify’s numbers are any indication, it looks like Apple might be a little late to the party. Will iTunes be able to catch up? We guess we’ll just have to wait and see.