It’s been a while since we’ve had official stats on Apple Music’s growth: 60 million subscribers in June 2019. Now Bloomberg has published some recent estimates from analyst firm Bernstein that suggest Apple Music is currently generating just over $5bn of annual revenues.
That puts it just behind iCloud in the company’s hierarchy of ‘services’, but well ahead of Apple TV+, Apple Arcade and Apple News+. No surprise, given that these services only launched a few quarters ago.
Bloomberg’s article is mainly about those newer services and the tweaks that Apple is making (or could make) to make them bigger revenue generators. As for Apple Music, we’ll await the next milestone announcement – at its 2019 rate of growth, it should be past 80 million now.
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