While Apple’s earnings report on Tuesday was mostly filled with year over year product declines, revenue from Apple various services continued to impress. For the quarter gone by, Apple services generated $6 billion in revenue, representing a 20% increase from the same quarter a year-ago.
Impressively, Apple services during the March quarter generated more revenue than both the Mac and the iPad.
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Specifically, Apple Music appears to be doing quite well. While the total number of subscribers to Apple’s streaming service aren’t sky high, the service does appear to be slowly but surely gaining traction in the marketplace. According to Tim Cook, Apple Music currently boasts 13 million paying subscribers compared to just 11 million two months ago.
By way of contrast, Spotify currently boasts 30 million subscribers. So while Apple Music still has some catching up to do, claiming 1/3 of Spotify’s subscriber base in just about nine months is no small achievement.
By the time Apple Music hits its one-year anniversary, it wouldn’t be outside the realm of comprehension to see it with upwards of 15 million subscribers. And by this time next year, once we factor in a new iPhone refresh cycle, it stands to reason that the Apple Music user base may exceed 20 million.
For a little bit of extra context, consider this: Spotify needed 6 years to reach the 10 million subscriber threshold. Apple reached it in less than a year.
