While speaking at the WSJDLive conference earlier this week, Tim Cook finally provided us with some concrete numbers pertaining to Apple Music. Per Apple's CEO himself, Apple's fledgling music streaming service currently boasts over 15 million users, of which about 6.5 million are paying subscribers.
Now, seeing as how Apple doesn't offer a free tier of music, the other 8.5 million users are currently within Apple's 30-day trial period window. Once that closes out, it stands to reason that the number of Apple Music subscribers will continue to shoot upwards.
Priced at $9.99 for a single subscription and $14.99 for a family subscription, Apple Music is about as expensive as Spotify. Of course, Apple's ace-in-the-hole is that Apple Music comes baked into iOS 9, providing the company with an absolutely staggering base of potential users.
While some might look at Apple's 6.5 million subscriber base as disappointing, it's hard to really look at it that way. In one fell swoop, Apple managed to go from zero music subscribers to nearly 7 million, each of whom is paying out $10/month.
In August, Apple senior vice president Eddy Cue, who is overseeing the rollout of Apple Music, said it had 11 million people on the trial version of the service. That suggests that nearly 60% of those users agreed to pay for the service after the trial period ended.
Before you know it, Apple's fledgling music service might very well be a strong contributor to the company's bottom line.
By way of comparison, Spotify currently boasts over 75 million active users, of whom 20 million are paying members. In other words, Apple Music is close to halving Spotify's subscriber base. All in all, not too shabby for a software rollout that was plagued with usability issues that Apple has finally gotten around to ironing out in recent weeks.