Apple Music is reportedly set to overtake streaming market leader Spotify in the US.
According to Wall Street Journal, which attributes the finding to two music industry sources, Spotify has a monthly growth rate of around 2%, while Apple Music has a growth rate of around like 5%.
If WSJ‘s sources are correct, Apple Music will become the leading music streaming service in the US by June.
It might seem hard to believe now; Apple Music’s paying subscriber base is around 36 million worldwide, around half the size of Spotify’s paid subscriber base of 70 million. But the news means Apple Music has increased its month-on-month average in the US over the past few months, adding over 1.2 million every four weeks.
According to WSJ‘s report, Apple Music’s growth is partly thanks to the surge in consumer growth of Apple’s devices. The tech giant releases its HomePod speaker system in the US next week, adding another device users can stream music from.
It’s an apposite move from Apple, during the first half of 2017 revenues from streaming services like Spotify and Apple Music accounted for 62% of the total market.
While Spotify certainly took the lead on bringing streaming to market in 2006 – and capitalising on the early growth of consumption – Apple Music has an enviable presence in the US and its decision to make HomePod an Apple Music-only device was certainly strategic.