Spotify CEO Daniel Ek said his company’s subscriber growth has increased since Apple Music entered the marketplace on 6/30.
Although Ek declined to give specific details about growth, Spotify is currently the world’s largest subscription music-streaming service with approximately 20 million paying users. It took five years to reach 10 million paying subscribers, but only one year to double that audience—a milestone the company announced back in June.
“We keep setting new records week by week,” Ek told Bloomberg.
Apple Music was widely touted as the “Spotify killer” when it launched, a sentiment Ek countered was “overblown.” But with 800 million credit cards saved in the iTunes store, Apple was hoping to convert 100 million of those customers into real subscribers. So far 11 million have officially engaged.
According to comScore, Apple Music was one of the most widely used mobile apps in the U.S. in July, despite being available on fewer than half of the country’s smart phones. We’ll get real numbers very soon—since the first subscription trial period ends in 15 days, on 9/30. It’s rumored that the service will become available on Android phones sometime this fall, but Apple hasn’t confirmed it. The new iOS becomes available tomorrow.
Many in the music business optimistically prophesied that a rising tide of users would lift all boats, and this week brought evidence suggesting they might be right.
