Apple Music service is growing at a faster clip in the US than Spotify’s. But the Swedish company remains much bigger globally.
Watching how the digital streaming platforms’ subscribers race has unfolded over the last half decade is a fascinating study in new digital capitalism.
Music streaming platforms have to navigate perhaps the most heated online competition to win their consumers, catalyzing moves like partnering with artists for high-profile releases a la Drake‘s Views on Apple Music, or Kanye West‘s The Life of Pablo Tidal exclusive, to deeply discounted student pricing and inventive co-branding ventures.
Chief among the DSPs clawing for your business is Spotify, though in the United States, Apple Music is mounting a steady comeback, and reports show Apple could claim the country’s No. 1 spot as soon as this summer.
Apple Music is adding new US accounts at a faster clip than Spotify, The Wall Street Journal reported, citing people in the record business familiar with both companies.
Its US subscriber base is growing at about 5 percent a month, faster than Spotify’s roughly 2 percent clip, the WSJ reported, citing those people.
Spotify remains the largest streaming service in the world and is nearly twice as large as Apple Music when measuring global subscribers. Spotify says it had more than 70 million subscribers as of last month, while Apple told the Journal it had 36 million.
Analysts believe this rapid rise in Apple Music’s adoption rate is due to all Apple technology coming with the digital streaming platform already pre-loaded on all devices, and the upcoming launch of Apple’s home assistant, the HomePod, could likely reinforce another considerable spike in subscribers.
As the DSP arms race continues to develop, one thing remains certain: competition is fierce, and it seems that this buyer’s market will only continue to get better.