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Apple Music reaches 38 Million Paid Subscribers

13 March, 2018, 11:16 | Author: Janis Wilson
  • Spotify Technology SA plans to list shares on the New York Stock Exchange next month according to people with knowledge of the matter

Spotify will host an investor day March 15 to tout the prospects of a company that has helped transform the music business.

Spotify Technology SA plans to list shares on the New York Stock Exchange the week of April 2, according to people with knowledge of the matter, giving the company weeks to prepare for an unconventional debut. Like Apple Music, Spotify's premium service is also priced at $9.99 per month. Apple has been competing with Amazon.com, Inc.

Apple said Eddy Cue, senior vice president of internet software and services, disclosed the most recent subscriber number for Apple Music at the South by Southwest festival in Austin, Texas.

South Africans already have a wide choice of streaming options, from Google Play Music to Apple Music, and Simfy Africa to Deezer. However, Spotify is the world's biggest streaming music company with more than 70m paying customers and offers a range of music discovery tools favoured by its fans.

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Making use of its most dedicated users in a similar way as Wikipedia's crowdsourced approach to information gathering, Spotify checks whether submissions match what other users have sent in and keeps track of previous results to ensure accuracy.

In addition to its paid service, Spotify also offers an free ad-supported version to help draw users into the service.

Spotify's enormous lead over Apple notwithstanding, some industry observers believe that Apple Music may catch up to and overtake Spotify in just a few months because it appears to be growing at a much faster clip.

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