Apple Music Subscribers Climb to 30 Million

In a new interview with Billboard, Apple Music lead Jimmy Iovine said the tech giant's streaming service subscriber count has hit a fresh high of over 30 million subscribers, climbing from 27 million subscribers in June. But Apple (NASDAQ: AAPL) investors shouldn't be impressed.

Though the 3 million jump in subscribers over a period of just a few months is notable, Apple Music hasn't gained enough traction to threaten streaming music leader Spotify -- at least not yet. Looking ahead, Apple investors should hope the company can kick its Apple Music efforts into high gear, as services are becoming increasingly important to the company's business.

Apple Music. Image source: Apple.

Source: Fool.com