1 | Apple's new music streaming service has attracted more than eleven million members to its free trial since its launch just over a month ago, the company has said. |
2 | Apple Music rolled out a three-month free trial period on 30 June. |
3 | Nearly two million people opted for the free trial family plan, which will cost 14.99 a month for up to six family members, the company said. |
4 | Apple's iTunes Store helped revitalise the music industry a decade ago, but digital downloads have slumped in recent years amid a shift toward streaming. |
5 | Unlike popular streaming services from rivals like Spotify, Apple's offering does not include a free on-demand tier, a decision praised by some in the music industry. |
6 | In June Spotify said it had 20 million paying subscribers on its platform, with a total of 75 million active users when those using the free service were included. |
7 | Meanwhile Apple said its App Store saw the largest-ever number of customers in July, yielding $1.7 billion in transactions. |
8 | Apple set a high water mark for App Store customers in China in July. |
9 | It said it has now paid developers almost $33 billion. |
10 | Although App Store transactions are on the rise, Apple still draws the majority of its revenue from sales of hardware such as its blockbuster iPhone. |
11 | In the most recent quarter, Apple's revenue rose 32.5% to $49.61 billion from a year earlier, beating Wall Street expectations of $49.43 billion. |
12 | The company's stock has dipped recently amid concerns about how its growing business in China will fare amid economic downturn in the country. |