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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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TechApple

Tim Cook reveals how many people are rocking out to Apple Music

By
Kia Kokalitcheva
Kia Kokalitcheva
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By
Kia Kokalitcheva
Kia Kokalitcheva
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October 20, 2015, 1:00 AM ET
Streaming-Service Apple Music
ILLUSTRATION - Ein Kopfhörer umgibt am 11.06.2015 in Erfurt (Thüringen) ein iPhone mit dem Schriftzug "Apple Music". Photo by: Sebastian Kahnert/picture-alliance/dpa/AP ImagesPhotograph by Sebastian Kahnert— picture-alliance/dpa/AP

Apple’s music streaming service has gained considerable traction since being introduced three and a half months ago, despite early criticism about its design.

CEO Tim Cook said on Monday that Apple Music has 6.5 million paid subscribers plus another 8.5 million users who are still in their three-month free trial period.

Apple (AAPL) announced the music streaming service, which competes with established players like Spotify, Rdio, and Deezer, in June. The service became available at the end of that month, and October 1 marked the end of the first wave of trial users’ free period. With the debate over whether consumers still want to pay for music streaming, industry observers have been carefully watching whether Apple will be able to convince its users to pay. In August, Apple revealed that 11 million people had signed up. Apple now has a combined 15 million paid and free users.

In comparison, Spotify reported in June that it has 20 million paying users and 75 million total users.

Apple Music received mixed early reviews because of what some users described as a confusing design.

Cook also revealed that Apple will begin taking orders for the newly revamped Apple TV on Oct. 26 and that it will start shipping the product later that week. He made his remarks at a technology conference in Laguna Beach, Calif., hosted by the Wall Street Journal.

 

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