Apple Music passes 40 million paid subscribers mark

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Apple Music
Apple is increasing its dependence on revenue from services like Apple Music.
Photo: Apple

Apple Music appears to be narrowing the gap with Spotify when it comes to paid subscribers.

In a tweet this afternoon, Apple revealed that the total subscribers for its music service passed the 40 million mark during the same week Spotify’s stock went up for sale on the New York Stock Exchange.

Spotify is finally going public

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Spotify
The Spotify IPO is finally here.
Photo: Jim Merithew/Cult of Mac

Apple Music’s biggest competition is about to get an influx of Wall Street cash.

Spotify finally filed documents for an initial public offering, after rumors of going public had been floating around for years. According to reports, the company could be worth as much as much as $23 billion, but it’s still not profitable.

Snap Inc.’s IPO soars but will it ever make money?

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Spectacles are no longer a U.S. exclusive.
Spectacles are no longer a U.S. exclusive.
Photo: Snap, Inc.

The photo sharing and messaging app Snapchat is a hit with kids, but on Thursday its parent company was fun for investors who made it the day’s most heavily traded stock on the New York Stock Exchange.

Snap Inc. made its debut with shares priced at $17, but high investor demand quickly raised it to $24, putting the tech company’s value at close to $33 billion, according to reports.