(11.01.16) Apple Music races to 10m subscribers 7 months after launch

Apple Music now boasts more than 10m paying subscribers.

The Spotify rival only launched just under seven months ago, on June 30 last year.

Those who signed up received a three-month free trial to the service – taking early adopters up to September 30 – before being asked to pay $9.99/£9.99/€9.99 per month.

News of AM’s 10m subscribers has been confirmed in the Financial Times, although there has been no confirmation of how many of this number are active on the platform.

Labels received their first ‘paid-for’ Apple Music royalty cheques (for October 2015) last month.

One independent record company told MBW last week: “It was double the amount of money we were expecting,” although they added that income from China was a disappointment.

In contrast, Spotify – which launched as a Swedish startup in 2008 – took six years to reach 10m paying subs, in May 2014.

Read the full story on Music Business Worldwide