A leaked internal email surprised many when it revealed that Apple Music hit 40M subscribers earlier this month, up from 38M just two months earlier.
One analyst is now forecasting that the streaming music service will grow 40% per year …
The WSJ reports the prediction.
Schachter does, however, observe that Apple Music is likely to be one of the least profitable parts of the business.
Competition between Apple Music and Spotify continues to be fierce. There have been arguments about which service saw the most streams of The Weeknd’s new release, and Spotify recently poached Apple Music’s hip-hop programming head. Hip-hop is a genre in which Apple has been particularly successful.
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