Apple Music SWOT Analysis Analyzes, Apple Music is a branch of Apple Inc, catering for music lovers by being a music streaming platform on a subscription-based scheme. Apple music creates global radio programming and social features that connect the artists and fans.
Did You Know?
At launch, Apple Music is accessible on iOS devices, Mac, and PC. A version for Android and Apple TV launches in the fall.
Apple’s Music is known for its high-profile exclusives, robust library, curated radio, and seamless integration with iOS 14 and earlier versions of iOS. This meaty concoction helped Apple reach impressive growth in listeners, with over 72 million premium subscribers, vaulting it atop Spotify at one point in the U.S.
This can only be achieved through a firm with extensive knowledge, experience and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities and threats, it is necessary to conduct a SWOT analysis by Apple Music.
Apple Music At A Glance – Apple Music SWOT Analysis
Company: Apple Inc.
Founders: Jimmy Iovine
Year of establishment: June 30, 2015
CEO: Tim Cook
Headquarters: Cupertino, California, United States
Employees (Dec 2020): 370,800
Ticker Symbol: AAPL
Type: Public
Annual Revenue (Dec 2020):US$3.7 Billion
Profit net income (Dec 2020):US$1 Billion Approximately
Products & Services: Apple Music | Apple TV+ | iCloud | iTunes Match | AppleCare | Cloud Services | Digital Content and Payment Services | Advertising
Company Website: www.apple.com
Top Apple Music Competitors
Competitors: Spotify | Tidal | Amazon Music Unlimited | YouTube Music | Idagio | LiveXLive | Pandora | SiriusXM Select and SiriusXM Premier
Apple Music SWOT Analysis – SWOT Analysis Of Apple Music
SWOT Analysis Of Apple Music analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Apple Music SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Apple Music SWOT Analysis. Below Is The Detailed SWOT Analysis Of Apple Music.
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Apple Music Strengths – Apple Music SWOT Analysis
- On demand streaming The all you can eat, including Apple music’s huge 30 million-song library (given that you pay the cost of $9.99 per month).
- The application is installed across the majority of Apple music devices, and is available for download as a free download.
- The same number of songs (30 millions) as their largest rival Spotify but the track listing differs.
- Contrary to Spotify or YouTube, Apple music allows users to view videos without advertisements.
- Accessibility: On all iPhones as well as iPads and iPod touch models operating iOS 8.4 and later, as and Android.
- Apple music can be downloaded in over 100 countries including Canada, the U.S, Canada, the U.K etc.
- Family Plan: Apple music provides a family subscription plan . Its $14.99 monthly price that is generously allowing at least six people at once.
- Financial leverage lets the service use the balance sheet of their business to expand their business , and improve profits.
- A three-month trial of Apple music can entice users to try the service prior to making a choice to purchase.
Apple Music Weaknesses – Apple Music SWOT Analysis
- The cost :Apple music is an expensive $10 per month. Studies show Apple music was unable to persuade record companies to reduce their charges.
- Apple music, which is similar that of Spotify, Tidal etc. is streaming service, and as such the users don’t actually control the music they’re streaming, but rather listen to it remotely.
- Contrary to Spotify, Apple music does not have a free, paid version.
- Apple music releases music at 256kbps, which is essentially similar to iTunes. The rival Tidal has a high-bitrate choice (1411kpbs uncompressed FLAC) for a cost of a subscription.
Apple Music Opportunities – Apple Music SWOT Analysis
- The online market allows platforms for music, such as Apple music that can greatly increase their market to a larger public.
- Innovation: More innovation could assist Apple Music streaming develop exclusive solutions and offerings.
- Services that are new :apple music can profit and benefit from new services that help them diversify the customer base of their company.
- Expanding internationally: since Apple music already internationally distributed, which means it has the potential to be more accessible to a larger audience and grow their business
Apple Music Threats – Apple Music SWOT Analysis
- Markets that are mature: as Apple music is part of the mature market it will be a challenge to sustain their market.
- The intense competition of other streaming services like Spotify could put a strain on Apple music’s earnings
- Variation in the way that people purchase music: Consumers could alter their choices about the way they purchase music since the world of music is constantly changing.
Apple Music SWOT Analysis Template
This is the SWOT report that Apple Music has done. Please let us know if you have additional suggestions to add.
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