Apple Music hits 38 million paid subscribers

(Reuters) – Apple Inc’s (AAPL.O) streaming audio company now has 38 million paid subscribers, up from 36 million in February, the company explained on Monday.

FILE Image: The logo of Apple is seen at a shop in Zurich, Switzerland November 22, 2016. REUTERS/Arnd Wiegmann

Apple is locked in race for subscribers with Inc (AMZN.O), Alphabet Inc’s (GOOGL.O) Google and others as streaming audio results in being the dominant type of paid audio usage. Apple’s range compares to 71 million high quality subscribers at the close of 2017 at sector leader Spotify, which options to record shares in the coming months on the New York Stock Trade below the ticker symbol Spot.

Apple explained Eddy Cue, senior vice president of web application and companies, disclosed the most new subscriber range for Apple Music at the South by Southwest festival in Austin, Texas.

Amazon Music Unrestricted has 16 million spending subscribers, and Pandora Media Inc (P.N) has 5.48 million full subscribers. Google does not release paid subscriber figures for its company, Google Perform Music.

Apple, Spotify, Google and other companies demand $9.99 a thirty day period for audio. Amazon delivers its company to users who already shell out for its Primary membership, which features transport, online video information and other benefits, for $7.99 for every thirty day period.

In addition to its paid company, Spotify also delivers an free ad-supported edition to enable draw buyers into the company. Apple Music does not give an ad-based mostly edition and instead takes advantage of a a few-thirty day period free trial to lure shoppers. Cue explained Apple has 8 million subscribers currently in the free trial period of time, the initial time Apple has disclosed the range of trial buyers.

Reporting by Stephen Nellis Modifying by David Gregorio

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