Apple Music already has 10 million paying subscribers, only six months after launching. The iPhone and iPad maker's streaming music service could top Spotify's 20 million subscribers by the end of 2016, according to projections, potentially making the largest player in the market.
Apple Music hits 10 million paid subscribers
Streaming music market leader Spotify took six years to hit the 10 million subscriber point, and another year to surge up to 20 million. Apple was able to bring in 11 million subscribers during its first month of availability, although all of those were participating in the first wave of three-month free trials. The company did, however, reach 6.5 million paid subscribers in about three months.
Apple's jump from 6.5 million paid subscribers in October to 10 million in December was bigger than expected. Projections had targeted 8 million, which means the holiday season turned out to be a nice boost for Apple.
Spotify currently has at least 20 million subscribers, making it the streaming music leader. The company last reported its subscriber numbers in June 2015, and it has most likely increased since then. That said, Apple is gaining subscribers much more quickly than Spotify, so it could catch up by the end of the year.
Assuming Apple does surpass Spotify, it'll be the largest player in the market. It already looks to be the fastest growing streaming music service, too.
Apple may be planning on expanding its streaming music offerings this year, as well. The company has filed for trademarks on additional Beats Internet radion stations to accompany Beats 1.
There isn't any word yet on how Beats 2 through 5 will be used. It's possible Apple could be planning on different style-specific stations, or stations that focus on specific music genres.
Adding more Beats radio stations to Apple Music could be enticing for potential subscribers—all of whom will add up as Apple pushes to surpass Spotify's subscriber numbers.
[Thanks to the Financial Times for the heads up]