Loup Ventures claims Apple Music will make $8.6bn in 2020
Posted on: 7 septembre 2020, by : Stuart Dredge

Investment firm Loup Ventures keeps a close eye on Apple’s business, including its music activity. Now it has put out some estimates for Apple Music’s progress.
“Apple Music has room to grow with 82m subs out of 980m active iPhone users (8%) paying for the service,” wrote managing partner Gene Munster in a blog post. “We estimate the average Apple Music subscriber is paying about $7.00 per month, which equates to about $6.8B in revenue this year, or 2.5% of total revenue.”
Munster also claimed that Apple Music is “converting potential customers into paying customers at a rate 2.5x faster than Spotify”.
The post Loup Ventures claims Apple Music will make $8.6bn in 2020 appeared first on Music Ally.
Source: Music ally

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