Can Apple Ever Catch Up in Streaming Music?

December 12, 2017 By E.J. Smith - Your Survival Guy

Image used under license from Shutterstock.com

Spinning Christmas tunes last night through our Sonos made me wonder how Apple missed this huge opportunity. Looks like they’re trying to pick up their game with the acquisition of Shazam. Too little too late? Spotify, a small company that seemingly came out of nowhere has been able to amass 60 million streaming subscribers. Meanwhile, Apple, creator of the iPod and the unrivaled master of MP3s sat on its hands while streaming music proliferated. Now it’s playing catch up, with 30 million subscribers, Apple is well behind. Tripp Mickle writes that Apple may be able to use Shazam to close the gap:

The acquisition gives Apple ownership of an app that helps users identify unfamiliar songs. Users are often directed to listen to those songs at Apple Music or Spotify, helping those services possibly reach new subscribers. Such referrals could help Apple boost the number of subscribers to its streaming-music service from its current 30 million. Spotify AB says its service has 60 million paid subscribers.

Shazam, which made its debut as an app in 2008, also gives Apple access to extensive data and insight on people’s musical interests. It has been able to use its insights in the past to predict the “songs of summer,” insights gleaned from user searches that could help Apple put together playlists for streaming-music subscribers.

“If you have the direct integration of Shazam as part of Apple, and people find out what a song is [by] using Apple, then they go buy it using Apple. It creates a full ecosystem,” said Brian Zisk, the executive producer of the SF MusicTech Summit, an annual conference.

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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