Apple's most popular digital service is iMessage, then iCloud. For Apple Music and Apple TV+ not many people subscribe because services like Spotify and Netflix have dominated the market. Last month we reported that Apple TV+ monthly subscribers were lower than Netflix daily subscribers. Universal Music Group revealed the latest, Apple Music also does not have a high number of users.
Universal Music Group or UMG is one of the world's largest record labels in their financial report stating that revenue from the music streaming platform is very slow. Apple Music and Amazon Music are among the platforms that do not bring new customers. Compared to Spotify which has over 220 million users, Apple Music reportedly has only 93 million. UMG's market share also decreased by up to 30%. UMG says this is only temporary but industry experts are not convinced that streaming revenue will recover anytime soon.