Apple Music has adopted an “aggressive” strategy to take on Spotify. Looks like it’s working.
Over the summer, Apple CEO Tim Cook confirmed that the company’s streaming music service had reached a new milestone.
In addition to hitting 50 million paid subscriptions, Apple Music overtook Spotify in three key markets – the US, Canada, and Japan. That is, according to Cook.
Thanks to bundling on iOS devices, the company converts paying customers nearly 3 times faster than its rival.
Over the past year, Spotify has had a stable conversion rate of around 0.24%. Apple Music has 0.64%.
Now, the company has posted a new subscription milestone.
To take on the streaming music giant, Tim Cook has adopted a new strategy. According to the Financial Times, Apple Music now aims to gain subscribers from terrestrial radio.
FT adds that the service would’ve dominated the streaming music market long ago. Unfortunately, Apple executives fumbled the launch.
An unnamed senior major label executive explained….
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