Spotify is still currently the king of the streaming wars, but it seems as though Apple Music is starting to catch up. Recently Apple Music shared that the number of paid subscribers to it’s streaming music service is around 32 million people. That’s up more than 50% from the numbers reported at the beginning of the year – only 20 million.
Spotify has 100 million users in total with about 51 million of them using the premium/paid version of the service. That means Apple Music’s growth – if it continues – may help it catch up to Spotify’s user numbers in a few months.
Spotify will have to keep a close eye on it’s major competitors if it hopes to keep it’s edge in the streaming business. Apple, and even Amazon Music – with 63 million subscribers thanks to Amazon Prime users – will be close on it’s heals.
However, because companies like Amazon, Apple and Google (who actually considered buying Spotify) are so diversified in their product offerings, Spotify may be able to continue winning in the long term. Spotify is JUST about streaming music. Apple, Amazon and Google are much more.
Spotify may also be going public soon, possibly opting for a Direct Public Offering, rather than the traditional Initial Public Offering (IPO).