Spotify Almost Growing Twice as Fast as Apple Music with 113 Million Subscribers

Spotify announced its Q3 2019 results today which included the revealing of some big numbers. The company mentioned that as on September 30, 2019, Spotify has touched 113 million subscribers. The company also saw its monthly active user count increase to 248 million, although this figure also includes the non-paying customers who get an ad-supported version of the service. Apple Music, on the other hand, was said to have 60 million paying subscribers back in June this year.

While Apple Music has made some massive changes since its inception, Spotify has continued to grow at a rapid pace. Spotify has added nearly 5 million users to its name since June 2019, while Apple Music’s latest figures are unavailable since the company rarely shares information on this front. Spotify’s numbers were twice that of Apple Music for at least the past year.

Here’s an excerpt from the Spotify’s letter to its shareholders:

We continue to feel very good about our competitive position in the market. Relative to Apple, the publicly available data shows that we are adding roughly twice as many subscribers per month as they are. Additionally, we believe that our monthly engagement is roughly 2x as high and our churn is at half the rate.

While Spotify has a free version for all users, Apple Music only offers a 3-month free trial. On the bright side, Apple doesn’t plaster ads onto its users’ ears in between songs, while Spotify’s free version does. It will be interesting to see what else Apple could pull out of its hat to counter Spotify’s continued dominance in the music streaming business.

Source: Spotify

Via: MacRumors