Contention is heating up among the two of the biggest music streaming services: Spotify and Apple Music.
Even if Spotify has long held the No. 1 spot, Apple Music shows to be adding subscriber accounts in the U.S. at a faster rate, The Wall Street Almanac reported on Sunday. The tech giant’s U.S. subscriptions have been attain maturity about 5 percent monthly, compared to Spotify’s 2 percent, the publication signified.
If those growth rates continue, Apple will overtake Spotify in accounts this summer, the Gazette added.
Spotify launched years before Apple Music, and has the reach to picture for it. Currently, the streaming service has more than double Apple’s comprehensive number of subscribers, and last month boasted a new high in paid pandemic subscribers of 70 million.
A source close to Apple Music broadcasted CNBC on Sunday that the service now has 36 million, up from its in the old days reported 30 million in September.
Apple gets a built-in dominance from its wide array of wildly popular devices like the iPhone, Apple Notice and iPad — all of which come with Apple Music.
Also, Apple Music has a ampler library, and has a premium service which lets users access 45 million performances for $9.99 a month. Separately, Spotify gives free access to through 30 million songs, and has 140 million active users yon the globe. For $9.99, subscribers can tune in without hearing ads.
The full statement can be found on The Wall Street Journal’s website (a subscription may be required).
–CNBC’s Josh Lipton advanced to this report.