According to a report that appeared in the Financial Times, Apple Music now has 10 million subscribers who pay for Music streaming. This is surprisingly a huge number of subscribers in a short span of time. Apple Music was launched only six months ago.
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There are several music streaming services in the market which operate on subscription based as well as ad-supported model. Apple, on the contrary does not have an ad-supported model. It comes with a three-month free trial in the beginning, after which the app becomes paid on a monthly basis. If users do not wish to pay after three months, they can opt out of the service. It took several years for even leading music streaming websites like Spotify to reach that number, but Apple has 10 million subscribers who pay for the service in a time of 6 months, as reported by the Financial Times.
Apple forayed into the music streaming much later after it began losing revenues on its iTunes to music streaming websites like Spotify. Apple also purchased Beats music, which saw the beginning of the Apple Music. Apple acquired Beats headsets for $3 billion, the most expensive acquisition ever taken by Apple. Apple also discontinued the Beats Music on Apple Music, soon after the acquisition.