Prior to the launch of music streaming services like Apple Music and Tidal, it was safe to say that Spotify was the king of the hill. To be fair, they appear to still be the king of the hill, although they are in for a much tougher fight thanks to Apple Music who appears to be growing rather rapidly with 13 million paid subscribers.Now if you think that Apple Music is actually stealing users away from Spotify, we suppose that might be true to a certain extent, but for the most part it sounds like the existence of Apple Music has proven to be a boon for Spotify, with the company claiming to have seen a quickened growth ever since the launch of the service.
Speaking to Reuters, Spotify exec Jonathan Foster said, “It’s great that Apple is in the game. They are definitely raising the profile of streaming. It is hard to build an industry on your own. Since Apple Music started we’ve been growing quicker and adding more users than before. It would be terrible if we were just taking each other’s users or to learn there was just a ceiling of 100 million users – I don’t think that is the case.”
As it stands, Spotify has 30 million paying users which is more than double that of Apple Music, although that Apple Music has been on the scene for considerably less time. It is possible that with more streaming services being offered that more listeners are starting to explore their options, as opposed to users jumping from one platform to the other. In fact if anything, streaming is on the rise as Warner Music has recently confirmed that streaming is their biggest source of record music revenue the last quarter.
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