Apple's Last-Ditch Effort to Capture Music Streaming Market Share
Apple recently announced a new music streaming app in a last-ditch effort to capture more market share. But will it be enough to compete with Spotify's 125 million active users? Learn more about the backstory and the potential impact of the app.
Chris Cunningham
Founding Member of @clickup. Scaling Clickup in public and sharing how I'm securing raving fans via influencer marketing, community, and brand strategy.
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Apple is losing the music streaming wars.
— Chris Cunningham (@ChrisClickUp) March 10, 2023
Spotify dominates the marketplace.
And has 125 MILLION active users than Apple Music.
In a last-ditch effort to capture more market share, Apple announced its new music streaming app.
But that's not going to save them; here's why🧵 pic.twitter.com/SnWj3ZbkSl -
1/ Backstory
— Chris Cunningham (@ChrisClickUp) March 10, 2023
Apple Music made approximately $8.3 billion in revenue in 2022
It has more subscribers than Spotify in the United States,
but Spotify has more in Europe and South America
How will this new app impact Apple? pic.twitter.com/jwiy8X8sjm -
2/ Classical Music Hub
— Chris Cunningham (@ChrisClickUp) March 10, 2023
Apple designed this app specifically for classical music.
It will offer users access to over:
-Five million tracks
-Hundreds of curated playlists
-Thousands of exclusive album
This will help Apple to create a new genre -
3/ Main difference
— Chris Cunningham (@ChrisClickUp) March 10, 2023
It will stream at up to 192 kHz/24-bit hi-res lossless.
This will include “thousands” of spatial audio recordings.
Users can search “by composer, work, conductor, or even catalog number, and find specific recordings instantly.” -
4/ Acquisition
— Chris Cunningham (@ChrisClickUp) March 10, 2023
It will be shipped as part of the Apple Music subscription.
The app will be available to subscribers across plans.
Individual ($10.99/mo)
Student ($5.99/mo)
Family ($16.99/mo)
This will help Apple to attract new users. -
5/ Android v/s Apple
— Chris Cunningham (@ChrisClickUp) March 10, 2023
Android accounts for about 70% market share—
and iOS at around 28%
Apple designed this app is only for iOS users, so a BIG chunk of users won't be able to use it.
This will be a significant downside -
That's all, guys
— Chris Cunningham (@ChrisClickUp) March 10, 2023
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