Image source: Tidal.
Just a year after its launch, Apple (NASDAQ: AAPL) Music has 15 million paid subscribers. For context, the industry leader, Spotify, took more than six years to get to that point. Of course, Apple Music benefited from the secular shift to streaming from digital downloads and physical media, which is exemplified by the fact that Spotify has also added another 15 million paid subscribers since the beginning of last year.