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Apple Music now has more than 38 million subscribers; the incredible news is that 2 million has subscribed in just over one month. This surprising news was declared by Eddy Cue; he is the senior vice president for internet software and services at the South during Southwest Conference and Festivals. Last month, Spotify announced plans to go public, and in doing so revealed it has 71 million paying users. In 2017, the service recorded 159 million monthly active users who streamed 40.3 billion hours of content, U.S. Securities and Exchange Commission filings show. During his speech he also indicated that there should be about two billion people throughout the world who could subscribe in Apple Music, Spotify or some other outstanding service. Cue also added that more than half a billion customers access the App Store every week, all of whom are ripe for subscription. Yes, there is a really outperforming results, Apple does not stop amazing us.
“The real opportunity for music — and it’s not about Spotify or us or the labels, it’s about artists — is how do they get their music to everyone around the world and how do they get compensated for that,” Cue said. “We both have to grow by significant amounts in order to get to the numbers which it should.”
During the speech at SXSW he also talked about Apple’s acquisition of Texture, a distributor of digital magazines. He also dismissed rumors that the company was looking to purchase Netflix, instead saying Apple is “all in” on original content created by its in-house entertainment team. And in conclusion it was said that Rihanna is the most required female artist on Apple Music.
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