News - 31/01/2019

Apple Music reaches 50m subscribers

Apple Music reaches 50m subscribers

Apple Music has 50 million subscribers - that is to say 50 million persons actually paying for a subscription.

CEO Tim Cook told analysts in Apple’s latest quarterly earnings call:

I'm very proud to say that nearly 16 years after launching the iTunes Store, we generated our highest quarterly music revenue ever thanks to the great popularity of Apple Music now with over 50 million paid subscribers.


This was part of the bigger story of Apple’s growing revenue from ‘services’ – a business category that includes its App Store, Apple Pay and cloud services as well as Apple Music. And Cook added:

Services revenue set an all-time record at $10.9 billion in the December quarter growing 19%. [...] The installed base continues to grow very nicely. It has reached 1.4 billion active devices at the end of December. Within this installed base the percentage of users who are paying for at least one service is growing very strongly… our subscriptions are becoming a very large portion of our business and they're growing very well above services average.

Apple’s CFO Luca Maestri also revealed that Apple’s global active install base of iPhones is now 900m, having added almost 75m in the last year. Which, if you’re talking conversion rates, means only 5.6% of iPhone owners are paying for Apple Music.

 

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