Apple announced today that it now has 38 million paying subscribers for its streaming music app, Apple Music.
Eddy Cue, Apple's senior vice president of Internet software and services, revealed the updated subscriber count at SXSW. That is a pick up of 2 million new subscribers, or 5.6%, since February. Based on the pricing of company stock traded on private markets, the company, launched in 2008 and headquartered in Stockholm, Sweden, is valued at $23.4 billion.
"With over 159 million active users, including over 71 million Spotify Premium subscribers, Spotify offers a choice between an ongoing free ad-supported music service and a fully-featured, ad-free subscription option", said the company. However, Apple Music and Spotify's combined subscribers only touch 100 million. The premium account will cost users R59.99 per month, the same price as competitors Apple Music, Deezer, and Google Paly Music.
Any Spotify users itching to add their two cents have to go through a bevy of surveys testing their music knowledge and describing the music they like.
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