Apple Music converting potential customers 2.5x faster than Spotify — Apple World Today

Other key points from the Loup Ventures’ report include:

° Apple Music has room to grow with 82 million subscribers out of 980 million active iPhone users (8%) paying for the service.

° The average Apple Music subscriber is paying about $7.00 per month, which equates to about $6.8B in revenue this year, or 2.5% of total revenue.

° While Apple Music is growing paid subscriptions faster than Spotify, the overall market share between the two companies has remained stable over the last two years. 

° Spotify has 34% global share compared to 20% for Apple. Loup Venteures estimates market shares for the two companies were 35% and 18% respectively in 2018.