Apple Music may have only launched in June 2015 but that has not stopped it making its mark. According to figures from the Financial Times the music streaming service has already managed to secure an impressive 10 million paying subscribers. Putting this into context, Spotify has so far been the major player in this area, and took six years to reach that figure.
Spotify is still leading the way but will Apple Music change all that? This remains to be seen, but what does seem clear is that the appetite for music streaming is continuing to grow.
You may be thinking that recognition of the brand has a lot to do with the fast growth in subscriber numbers for Apple Music. This could certainly be a factor, but it seems like the growth may be in appetite for music and not necessarily Apple specific. According to Jonathan Prince, who is head of communications at Spotify, the second half of 2015 saw their biggest growth in subscriber numbers since they started. You only need to take a look at the 2015 U.S. Music Year-End Report by Nielson to see that the last twelve months have seen incredible growth in the area; the take-up of on-demand audio streams grew by a huge 92.8% from 2014 to 2015 and the take-up of music related video streaming rose by 101.9%.
Monetizing your content
You can see from the number of paying subscribers that Apple has attracted that it’s possible to monetize your music streaming and music related video streaming content. Using a straightforward and reliable solution like InPlayer you can make it simple for viewers to subscribe to your content while they watch. Whether you are supplying music streaming or music related video streaming there is a certain listener or viewer expectations you need to address.
It’s difficult to attract people away from a free content. 83% of people who use music streaming say cost is a reason for choosing a streaming method.
- Ease of use
Those people who use a music streaming service want to be able to access content on a range of devices. Providing this range of access may be a way of securing a subscription from users.
- Range of content
Users want to be able to access a wide range of content; both Apple and Spotify offer a catalogue of around 30 million songs. 73% of users state that this forms a major part of their decision when looking for a music streaming provider. Offering more content is a good way of securing a subscription for your service.
You only need to look at the growth of Apple Music to see that now is a good time to put your music related content out there. Remember though, that you need to give users good value, cross-device access and as wide a catalogue of content as possible.