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Apple Music has 34% of the global payment music streaming market

Loup Ventures estimates that Apple has grown to 34% of the global payment music streaming market from 30% in September. And the research group says the service has room to grow with just 45 million subscribers out of 780 million active iPhone users (6%) paying for the service.

Spotify still controls the global paying music streaming market with about 62% share, down slightly from 65% in September, according to Loup Ventures. Pandora has lost share from 6% to 4%.

“Adjusting for addressable market (we estimate that 95%+ of Apple Music subscribers are on iOS), Apple is converting potential customers into paying customers at a rate 2.5x faster than Spotify,” says Loup Ventures. “Apple’s higher conversion rate can be attributed in part to iPhone owners having more disposable income compared to Android owners. A second, more material contributor is Apple’s ownership of iOS which distributes a seamlessly integrated music experience along with prompts to get iPhone owners to subscribe.”

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.