According to Apple Music chief Jimmy Iovine, Apple’s pay monthly music service, Apple Music, has hit 30 million paid subscribers across the world, reporting to Billboard that he doesn’t personally believe that what the company offers currently now is “good enough.”
During the interview, Iovine was enthusiastic about the growth of Apple Music, but admitted that simply adding more subscribers, launching entire back catalogues through record label deals, and staying on the forefront of new hits isn’t enough to maintain Apple’s presence in the streaming music market.
Iovine told Billboard that he thinks the service is heading in the right direction, but that all streaming music services need to do more to ensure their future.
“I believe we’re in the right place, we have the right people and the right attitude to not settle for what exists right now” […] Goldman Sachs issued a report in August predicting that subscription streaming would drive the global record business to nearly triple to $41 billion by 2030. But [Iovine says] the report “just doesn’t work for me.” The forecast, he claims, fails to properly account for the easy money that older catalog music currently pulls in, not to mention the competition from free platforms like YouTube.