Counterpoint: Apple Music Hits 68 Million Paid Subscribers – Motley Fool

It’s been nearly a year since Apple (NASDAQ:AAPL) services chief Eddy Cue said Apple Music had reached 60 million subscribers. The company doesn’t regularly disclose Apple Music subscriptions, instead only giving investors updates when it reaches certain milestones. In contrast, rival Spotify (NYSE:SPOT) reports user metrics every quarter because music streaming is its core business. The Swedish company finished 2019 with 124 million paid subscribers.

Recent estimates from Counterpoint Research peg Apple Music’s subscriber base at the end of 2019 at around 68 million.

Apple Music app displayed on a MacBook Air

Image source: Apple.

Global paid subscriptions top 350 million

Last week, the market researcher released estimates on how the global music-streaming market grew last year. Total subscriptions jumped 32% to 358 million. Spotify remains the leader in terms of both revenue share and paid subscription share, with Apple trailing by a notable margin.

Brand

Paid Subscription Market Share (2019)

Spotify

35%

Apple Music

19%

Amazon Music

15%

Tencent Music

11%

Alphabet‘s YouTube Music

6%

Others

14%

Data source: Counterpoint Research.

Translating those market shares into absolute numbers for companies that don’t disclose metrics directly, Apple Music finished the year with approximately 68 million paid subscribers, while Amazon had around 53.7 million. The e-commerce juggernaut said in January that Amazon Music had 55 million customers, but that figure includes ad-supported users in the free tier.

When including free users, Tencent Music (which operates the QQ Music, Kugou,
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