Apple Music’s (AAPL) singular focus on music and refusal to offer a free tier may be dimming its prospects with the next generation of music consumers, ones who can’t afford pricey streaming subscriptions, Ashley Carman of Bloomberg reports. When looking at growth in 2024, Apple and Amazon Music (AMZN) combined only added 6M subscribers while Spotify (SPOT) added 27M paying subscribers, Bloomberg adds, citing Midia Research. Midia believes this wide gap is due to Apple’s lack of a free tier, since it is missing a funnel to adoption.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Apple plans satellite-powered features for iPhones, Bloomberg reports
- China Lifts Mineral Export Curbs: Semiconductor and EV Stocks Could Benefit
- Strong Demand for iPhone 17 Drives Buy Rating for Apple
- Apple’s iPhone 17 Boosts Stock Amid Record Sales
- Warner Bros. Discovery Stock (NASDAQ:WBD) Gains as Comcast Steps In