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【Pacific Technology News】Recently, Universal Music Group said that the growth rate of users of Apple Music, Apple's streaming service, has slowed down. Since announcing 60 million users in 2019, Apple has not updated the number of Apple Music users, which may mean that by 2024, its number of users has not yet reached 70 million. Other streaming platforms such as Spotify and Amazon have also shown a trend of slowing user growth. Boyd Muir, chief financial officer of Universal Music Group, said that this phenomenon has become a common situation in the industry, and the streaming market is no longer a high-growth area.

Faced with slowing user growth, many companies in the industry have begun to lay off employees to cope with economic pressure. However, Muir pointed out that it is difficult for a single company to change the user growth trend of the entire platform alone.

Despite the slowdown in market growth, Apple remains confident in its streaming service Apple Music. On March 7 this year, Apple Vice President Oliver Schusser said in an interview with Wallpaper magazine that Apple is still constantly launching new features for Apple Music amid the slowdown in industry innovation.

Schusser stressed that Apple is focused on music, while other competitors are turning to podcasts and audiobooks. He cited a number of new features recently launched on Apple Music, including karaoke mode, a dedicated Classical app, spatial audio, and dynamic lyrics, to prove Apple Music's advantage in innovation.

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