‘Apple Music’ Worth a Whopping $10 Billion-expert


Apple music streaming service-‘Apple Music is said to worth a whopping $10billion, U.S. Money News reports.
The report also said that the revenue of the ‘Service’ specifically grew by 91% in 2017, and not even the low sales of the brand’s latest iPhone could dim the growth of the cash-cow of the global organisation.
To aid this growth, Apple Music enlisted 36 million additional paid users in the last two years alone, while iTunes downloads have dropped by 50% within the last 4 years.
The service is a top player in the highly competitive music streaming market.
Its major selling point-its ease of taking albums offline and saving favourite songs to customers’ feed makes buying an album simply not necessary.
This analysts say creates more room for growth for the platform in coming years.
"Looking forward, we estimate that Apple Music could grow by 70 percent in fiscal 2018 and 50 percent in fiscal 2019, contributing nearly 500 basis points per year to Services revenue growth and enabling Apple's overall music business to become meaningfully accretive to Services revenue and ARPU for the first time in years," analyst Toni Sacconaghi tells the publication. 
Toni estimates that Apple Music is worth roughly $10 billion, behind Spotify reported to be worth $20 billion. 


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