Apple Music is set to challenge Spotify in the streaming music market, but that doesn’t seem to be worrying the current market leading music streaming service.
While the CEO of Spotify only had two words for Apple’s announcement, a new blog post today reveals that 20 million people are currently subscribed to Spotify's streaming service. That’s an impressive figure and a substantial head-start on Apple.
The latest figures also show that Spotify's subscribers have doubled since its 10 million this time last year. It’s clear that while the service is showing overall growth, subscriptions appear to be holding up well despite the availability of free streaming.
After facing criticism over low royalty payments, the company revealed that it has now paid out more than $3 billion to artists since it began.
Apple's competition will pose a big challenge to Spotify but at its current growth rate, the latter has a clear lead. Apple Music will launch on June 30th priced at $9.99 a month, and it will reignite the streaming music battle once again.
Written by Dylan Grimes Larkin