Apple delivered a rare weak earnings report on Tuesday, sending its stock down 8%. But amidst the disappointment, was some very positive news on the music front. Apple Music has added 2 million paying subscribers in the last 2 months.
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Apple Music has more than 13 million subscribers, Apple CEO Tim Cook revealed during an earnings call Tuesday. That’s up 2 million from the 11 million announced in February. Each pay $9.99 per month for an individual subscription to $14.99 for a family plan, resulting in close to $150 million in gross monthly revenue to Apple.
“Apple Music continues to grow in popularity, with over 13 million paying subscribers today,” said Cook during the call. “We feel really great about the early success of Apple’s first subscription business, and our Music revenue has now hit an inflection point after many quarters of decline.”