Apple Music continues to catch on with more people.
The company's first attempt at a music streaming service now has 13 million paid subscribers, Apple CEO Tim Cook said on Tuesday during a conference call to discuss the company's fiscal second-quarter results. Citing the new number of subscribers, Cook said the service continues to grow in popularity.
"We feel really great about the early success of Apple's first subscription business," Cook said, according to a transcript of the earnings call from Seeking Alpha, "and our Music revenue has now hit an inflection point after many quarters of decline."
Apple Music competes with Spotify and other services for a slice of the growing music-streaming business, but it's mainly a way to bring more users into the Apple fold. By offering its own music-streaming service for iOS devices, Apple hopes to sell more iPhones and iPads. Selling more iOS devices means more users who might buy items from iTunes and potentially other Apple products and services.
Apple's music business has never been a moneymaker, but that seems on the cusp of changing with the growing popularity of Apple Music.
"It's interesting for us that our Music business, which had been declining for a number of quarters, now that we have both a download model and a streaming model, we have now hit an inflection point," Apple Chief Financial Officer Luca Maestri said on Tuesday. "And we really believe that this will be the bottom and we can start growing from there over time."
Released last June, Apple Music offers streaming music with playlists curated by "music experts," a 24/7 radio station called Beats 1 and a social feature called Connect that puts together musicians and their fans. The service costs $9.99 per month for an individual plan and $14.99 for a shared family plan for up to six people.
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