Apple converting paying customers to Apple Music 2.5x faster than SpotifyGene Munster says that Apple Music has plenty of room to grow on iOS.
What you need to know
Apple is converting paying customers to Apple Music 2.5x faster than Spotify.
That's according to analyst Gene Munster.
He says that only 8% of iPhone users pay for the service, leaving plenty of room for growth.
Analyst Gene Munster says that according to Loup Ventures estimates, Apple is converting paying customers to Apple Music at 2.5x the rate of Spotify.
In his most recent reportMunster states:
Adjusting for addressable market (we estimate more than 95% of Apple Music subscribers are on iOS), our estimates indicate that Apple is converting potential customers into paying customers at a rate 2.5x faster than Spotify. We believe this faster conversion is driven by consumers valuing integrated experiences, which Apple's ownership of iOS provides. Separately, iOS owners have more disposable income than the average Android owner, which also plays into paid subscriber adds.
Munste...
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Apple converting paying customers to Apple Music 2.5x faster than Spotify
