Apple Music is a relative newcomer in the streaming music space which made its debut in 2015. While it was entering a crowded market with the likes of Pandora and Tidal when it first launched, its main rival currently is just Spotify, which has dominated with millions more subscribers over the past couple of years. But more recently, it seems like the gap has started to close. According to a new report, Apple Music has now officially surpassed 40 million paid subscribers.
In addition to the impressive subscriber count, the company also announced that Oliver Schusser would become the global head of Apple Music, with the official title of vice president of Apple Music & International Content. Schusser has been with the company for 14 years, working on a variety of parts of the firm's digital businesses with contributions to the App Store, iTunes, iBooks, and more.
According to a recent report from the Wall Street Journal, Apple's current monthly growth rate sits at a little over double that of Spotify's count. This is quite impressive and will present quite an issue for Spotify, which recently went public. It will be interesting to see what kinds of innovations each company offers in order to compete in the same space.