Apple Music is doing well with 6.5 million paid subscribers reports Apple CEO.
The chief executive officer of Apple Inc. Mr. Tim Cook talked at the WSJD Live Conference the previous day that was hosted by the Wall Street Journal. Gerard Baker who belongs to the Wall Street Journal asks the company executive about the much hyped Apple Car, the sales projections for the company’s wearable tech Apple Watch along with the plans of the company for the future.
When the executive was asked about the sales of Apple Watch, he chose to stay quiet on the matter and clearly mentioned that he will not give out any information which is not necessary as of yet. So the exact figures will reach the masses when the company reveals its earnings for the quarter on October 27.
Mr. Baker believes that the company’s wearable device a part of Apple’s product category is actually indispensable. He was on the record when he made the statement. So this actually encouraged Mr. Cook to clear his stance and support the company’s offering. he claims that the Apple Watch deserves a chance and customer satisfaction is merely out of question. Although Mr. Cook statement shows a conviction and that the company will try its best to make a mark but a similar statement was also given earlier in September at the iPhone event. so then the executive started to talk about the company’s music streaming service known as the Apple Music where he told the masses that currently the service is catering to 15 million Apple users among which 6.5 million are subscribed to paid offerings.
This is actually great news for the company since the numbers are extremely impressive since it took almost six years for Spotify to gain 10 million paid subscribers. However, it needs to be taken into consideration that AAPL is already a reputable company so gaining consumers is not a tough task but Spotify was a pioneer thus developing its niche in a market that had no idea about music streaming is again a great thing. Another thing that needs to be noted is that the company has almost 800 million credit cards on its database but only 6.5 million thought that the service was worth their money.
The music service has potential since it is an Apple product that can lure all users but it still needs to do better. The company is content with its music streaming service performance but a lot more is needed in order to become the industry giant.
Apple Watch will be available in the Best Buy stores from August 7, which is expected to increase in sales for the company.
Apple Watch is expected to be launched on August 7, in collaboration with Best Buy Co. (NYSE:BBY). Around hundred Best Buy stores have recently been privileged to sell the giant’s new most-talked-about product in their stores, as well as in their e-commerce platform.This is the first time in US that an outlet is getting an opportunity to sell Apple Watch officially. It is useful for consumers, as they can easily buy these items from nearby Best Buy outlets. At first, it was only available on company’s website through the online orders in April.Apple Watch is a very well-constructed smartwatch that is ever seen. Like most of other smart watches, it is not just a separate device, but also a phone accessory. Android Wear, Samsung Gear, Pebble, and others work in similar way.Initially, Best Buy will hold 16 Apple Watch models of sizes, 38mm and 42mm, along with accessories including the watchbands, but the retailers will not offer the ‘Apple Watch Edition’ because it is considered as the most luxurious item. Therefore, it is only limited to particular ‘Apple Store’ and high-end sellers.Tim Cook, the CEO of Apple says, “We’re very confident because the Watch is one of the key, top gifts of holidays, and we wish to spread it as much as we can.” He further said that the sales of watch did exceed his expectations.Analysts and some market experts estimated that initial sales of watch would be low. However, iPhone makers have not disclosed sales figure up till now. Senior Officer of Best Buy says, “Apple Watch will be a massive addition to all stores as well as our website. We are happy to pass Apple watch to more customers because we know consumers are waiting and they like it.”The corporate giant has rejected to provide any real sales figures for the new product. It has already sold approximately 4 million watches up till now, various firms had calculated. Strategy Analytics states that the whole smartwatch industry – including Pebble, LG, and Motorola have sold around 4.6 million in the year 2014, and almost 5 million this year, before the Apple Watch’s entrance.Currently, 19 countries have official permit to sell Apple Watches, also planning to dispatch in Russia, Turkey, and New Zealand as well. This might raise the bar for the competition and company itself. The company is attempting to take care of its product line.
