Andre Yoskowitz
14 May 2014 17:21
The Trichordist has posted a very interesting document this week, one that shows some in-depth figures about the Beats Music service that is set to be acquired by Apple for over $3 billion.
In the document it is revealed that the service has just 110,000 subscribers, 49,000 individual and 61,000 family plans (most likely through the service's partnership with carrier AT&T).
For the month ended March 31st, the service saw nearly 180 million plays and the service brought in a revenue of just $417,000. Labels collected $248,000 of that figure, while songwriters collected just $23,000 in royalties, good for $0.000126 per play. Market leader Spotify, with over 8 million paying customers, songwriters collect between $0.006 and $0.0084 per play, a significantly higher amount.
Although it is not official (yet), Apple's purchase of Beats is reportedly so the company can have its own streaming music service and the ability to sell high-margin headphone accessories with their devices.
Source:
Trichordist