Words by Comfort Nnana Kalu
Apple Music is in line with other great to dominate the music streaming space. Apple has apparently experienced low sales in their latest update but because of the growth of their streaming services it has not damaged their name as a whole.
U.S. Money News shared that Apple’s Service revenue grew by 24% in 2017 and Apple Music grew astronomically by 91%. The data speaks for itself as it showcases Apple’s transition from revue through downloads to its streaming service, which provides for much growth.
Analyst, Toni Sacconaughi, declared that,
“Looking forward, we estimate that Apple music could grow by 70 percent in fiscal 2018 and 50 percent in fiscal 2019, contributing nearly 500 basis points per year to services revenue growth and enabling Apple’s overall music business to become meaningfully accretive to Services revenue and ARPU for the first time in years.”
Toni also summed up that Apple Music is worth roughly $10 billion, which is right after the $20 billion that Spotify holds in the space.