Apple continues to play its cards close to its chest on the performance of its music business, other than regularly telling analysts that the latest quarter set new records. Now J.P. Morgan analyst Samik Chatterjee has published predictions for the future growth of Apple Music.
Chatterjee and his team reckon that by 2025, Apple Music will be a $7bn-a-year business, with 110 million subscribers. This is part of some wider forecasts for the overall music streaming market, which J.P. Morgan expects to be worth $55bn by 2025.
It’s another big figure to set alongside yesterday’s new numbers from Goldman Sachs on predicted future streaming growth. That company thinks that music streaming will grow from a $37.8bn market in 2022 to $89.3bn by 2030.
The Goldman Sachs report also had some predictions for Apple Music. It suggested that the service had a 17.4% share of global music streaming subscribers in 2021 (so around 91 million, based on its estimate of 523 million paid subscribers overall). It forecasts a 14.5% share of 2030’s predicted 1.26 billion subscribers: so around 182.7 million.
All of which is just guessing, of course, in the knowledge that nobody (well, apart perhaps from us!) will remember to look back in 2030 to see if the numbers were right. Even so, it’s useful to have some numbers to play with around Apple’s music service, even if they’re external forecasts.