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Apple has a good chance of taking over the music streaming industry, at least according to a new report.
A survey conducted by Midia Research (via The Guardian) claims there’s a huge music-loving user-base waiting to be tapped into by the Cupertino-based company.
Midia Research asked 1,000 US citizens whether they would be willing to pay $7.99 for an Apple music streaming service, and 10 per cent said they would be ‘very likely’ to sign up.
A further 10 per cent said they would be ‘likely’ to, which is a great boon considering not all of the respondents were existing iOS users.
Fortunately, the study revealed that 15 per cent of the iOS users contingent would be ‘very likely’ to sign up to an iTunes subscription.
“Make no mistake, if 15 per cent of Apple’s entire 500 million or so iTunes users were to subscribe, the subscription market would be transformed, growing the total number of subscribers by 75 million,” explained Mark Mulligan, the report’s author.
“Even a year one target of a quarter of that would be transformational to the subscription market, but both numbers are far short of the approximately 250 million iTunes users who regularly buy music downloads.”
Related: Tidal Music Streaming Service: The story so far
It’s worth noting that this survey took place in February, but later reports suggest Apple is eyeing up a $9.99 monthly subscription fee for its rumoured music streaming service.
Mulligan said that the $7.99 price “will happen eventually even if it does not in 2015” however, but it’s still not clear whether support for Apple’s prospective streaming service would have been so popular at the higher price.
For instance, the current market leader is Spotify, which charges $9.99 monthly for its premium service at present.
Would you sign up to an Apple-powered music streaming service? Let us know in the comments.
