One of the biggest news in the tech industry in recent days would be the sale of Beats to Apple for a cool $3 billion, and certainly that purchase would not have made sense if the only reason was to take advantage of the number of users who happen to subscribe to Beats Music which at last count since its official launch three months ago, stood at a paltry figure of 250,000. The 250,000 figure was shared by Beats co-founder Jimmy Iovine at the Re/Code Code Conference, which is more or less the same place that Iovine had less than flattering words for Apple’s headphones.
250,000 happens to be a good 50,000 more compared to what industry analysts had originally estimated, where majority of those subscribers happen to hail from Beats’ deal with AT&T. Other than that partnership, Beats has not had an easy ride in gathering an audience, which could be another reason as to why Beats decided to sell itself off to Apple.
It depends on what kind of magic is Apple going to weave when it comes to the Beats brand, but it will still take some huffing and puffing especially when you take into consideration that the existing market leader, Spotify, happens to be riding high on 40 million active users and approximately 10 million paid subscribers.
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