Apple will add another billion dollar business to the list and Tim Cook the CEO of the company made an announcement that currently 15 million persons have subscribed to the Apple music. Out them, number of customers paying for the subscription is 6.5 million while the rest of the 8.5 million customers are on the free 3 month trial of Apple. To get the access to the unlimited streaming music, company receives $10 per month from the subscribers.
In this way, Apple has been earning $780 million for a period of 12 months i-e one year. To reach the land mark of billion dollars income, Apple would require another 1.8 million subscribers which can be brought into the paying subscribers’ category from those who are using the free trial version.
Apple music was launched earlier in the month of June will be soon acting as the billion dollars business for the company when it will be able to get that number of subscribers and then join the other businesses of the company in the list that include iPad, iPhone, Mac and iTunes. Company has the expectation that this year, it would get that mark.
This would be a great achievement by the company to get such large number of subscribers for this new service which has the rivals like Spotify, Amazon, Pandora, Google and many others. Apple Music has been getting success continuously through its impressive performance. When the comparison of the service is made with the Spotify, then a mixture of comments can be seen over that.
Those people who have bought the new iPads or iPhones recently, they can find the Apple Music appears on their home screens or those who upgrade their phones to the iOS 9 software, they will also get that in a similar way. So the service is not going to be missed by anyone now. While the company has the information of your credit card as well therefore it is very easy to sign up for that just through a single click.
Tim Cook said that they have observed that the high retention rate of the customers once they get the free trial of the service. Almost 60 percent of the subscribers of Apple Music do not leave the service. Even there are some people who do not remember to take the service, it is later done by them after the receiving of the first bill. By that result, we can say that the beginning of the Apple Music is great and it can be expected that more subscribers will be retained and the target of Apple will be achieved.