Spotify’s reign at the top has come to an end according to an industry insider who spilled the beans to Digital Music News. The anonymous source, rumored to be a major U.S.-based distributor states that Apple Music has surpassed the streaming giant in the U.S.
Both Spotify and Apple Music both boast of having more 20 million subscribers in the U.S., now with Apple passing the streaming giant by just a smidge, The exact number of subscribers is being withheld per request of the source to protect confidentiality. This latest development comes on the heels of a February Wall Street Journal report that pointed out Apple was gaining subscribers at a higher rate than Spotify. It predicted based on those figures that Apple Music was poised to take the streaming crown from Spotify this summer.
So what is help driving Apple’s growth? The increasing number of Apple devices landing in the hands of consumers and plus the release of its smart speaker the HomePod that utilizes Apple Music specific features. The Drake effect might also have something to do with that as well. The OVO general’s latest effort Scorpion surpassed Apple’s single-day streaming record with over 170 million in its first 24 hours of availability. Spotify struggled to even keep up with Apple Music’s streaming numbers for Drizzy’s album despite Apple having 120 million fewer subscribers.
Apple Music has brought in $9.1 billion in revenue for the company in the second fiscal quarter of 2018 which is a 31 percent increase on a year-to-year basis. That number will only improve if this report is indeed true and you can best believe Apple will do whatever it takes to remain at the top.
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