Apple Music reaches 38 Million Paid Subscribers

13 March, 2018, 11:18 | Author: Julian Harrison
  • Spotify Technology SA plans to list shares on the New York Stock Exchange next month according to people with knowledge of the matter

Global music streaming provider Spotify is set to launch its services in South Africa on Tuesday, marking its entry into Africa, where there is a rapid uptake of smartphones and improving telecommunications infrastructure.

After this trial, the Premium tier costs 59.99 South African Rand a month - equivalent to around U.S. $5. This may leave Spotify in the weeds behind Apple, Google, Amazon and even terrestrial radio when it comes to owning the physical distribution channel for music (smartphones, voice-enabled speakers, cars and more).

Spotify Technology SA plans to list shares on the New York Stock Exchange the week of April 2, according to people with knowledge of the matter, giving the company weeks to prepare for an unconventional debut.

Apple said Eddy Cue, senior vice president of internet software and services, disclosed the most recent subscriber number for Apple Music at the South by Southwest festival in Austin, Texas. Other competitors include Google Music, Tidal, Deezer and Napster.




CNET reports that Cue is looking to a market of about 2 billion customers who can access and pay for streaming rights, a far cry from Apple's and Spotify's current combined reach of barely over 100 million. Unlike Spotify, Apple offers a three-month free trial before subscribers are hit with a $9.99 monthly subscription fee.

Spotify was launched in 2008 and now has some 159 million users, 88 million of whom use the free version.

This is the first time Spotify will be available on the African continent.

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