April 25, 2014
Perhaps back in the day when other music services weren’t as popular, Apple’s iTunes was considered the king of the hill. This was further exemplified by Apple launched iOS devices in which iTunes played a bit part of in terms of its ecosystem, but it seems that Apple’s initial unwillingness to launch a streaming platform could lead to Spotify overtaking it in terms of revenue. According to Spotify’s head of label relations in Europe it seems that there is a good chance that Spotify’s revenue in Europe could soon over surpassing that of iTunes.
Surely Apple re-invented digital music, and the whole market behind it with the iPod and iTunes, but exactly how long did you think its success would last. The company was reluctant to adopt music subscription services for years, mainly because Steve Jobs never believed in it. Obviously those times were different, data speeds were as well, and now that Apple launched iTunes Radio, it’s clear that there is some pressure. Spotify has just confirmed that it is approaching 10 million paid subscribers, and out of these 1 million were gained in the past four months with its recent partnerships with Vodaphone and the Sunday Times. According to the statement: “Given that download sales are declining and Spotify is growing rapidly, particularly in the UK, it is only a matter of time before Spotify is bigger than iTunes across Europe as a whole.”
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