The number of people paying for music subscription services in the US market is starting to flatline, according to new figures – even though the revenue they are generating continues to jump.
According to RIAA midyear data, the US market saw 8.1m people paying a monthly subscription to a premium streaming music service in the first half of 2015.
That was up by a worryingly small 2.5% – or 200,000 – from the 7.9m people who shelled out for a premium account in the same period of 2014.
In prior years, streaming subscription numbers have leapt up by much more significant degrees.
However, the data fails to reflect the launch of Apple Music which is on an upward trajectory, according to sources cultivated by the New York Post.
Apple Music has garnered some 15 million users in its three short months in business, music industry sources tell The Post.
The figure is said to be a home run for Apple Music execs, whose projected number was on par, but who conceded that a slow first quarter ramp-up would be the norm, sources said.
Around half of those who signed up have not turned off auto-pay, which means they’ll convert from free to paid customers, sources said. The initial free three-month trial ends on Sept. 30th.
If those 7.5 million Apple subscribers stay with the service after the gratis period, the company will have more than a third of Spotify’s 20 million paid subscribers. Spotify launched globally eight years ago and in the US in July 2011.