Apple Music is the audio and video online streaming platform. Tech giant brand Apple laid the foundation of the Apple Music platform in 2015. Today, we’ll discuss the SWOT analysis of Apple Music; it outlines strengths and weaknesses; opportunities and the threats that the company has to face; as a business strategy analysis example company.
Products and services portfolio of Apple Music
- Music audio and video
- Podcasts
- Films
- Web series
- Internet radio
Pricing Packages of Apple Music
- Family – 16.99 USD per month
- Individual – 10.99 USD per month
- Students – 5.99 USD per month
Statistical facts and figures of Apple Music
- Network – 167 countries
- Average usage of users – 68 hours per month
- Annual revenue – 8.3 billion USD (2022)
- Subscribers – 88 million (2022)
- Pays to the artist – 0.0076 USD per listen
Competitors of Apple Music
- Spotify
- Qobuz
- Deezer
- Amazon Music
- Tidal
- SiriusXM Internet Radio
- Live One
- Sound Cloud
The SWOT analysis of Apple Music would analyze the internal strengths and weaknesses of the company; and external opportunities and threats that the brand has to face. Here’s Apple Music SWOT analysis as a business strategy analysis example company as follows;
Strengths of Apple Music
Some of the main internal strengths in the Apple Music SWOT analysis example company as business strategy analysis are as follows;
Large Network
According to an estimate, Apple Music is operating its business in approximately 167 countries across the world. The tech brand and streaming platform has established a network of over 88 million subscribers and users. The strong tech background and global influence help the company to amplify its customer market.
Diverse Library
Apple Music has developed a very large and diverse music library comprising 30 million songs from various artists in multiple languages of different categories. The large and diverse library helps the audio-video streaming platform target a wide range of customers in different countries worldwide.
Easy Access & Free Trial
Apple Music is free to install on all smart Android and iOS devices. In fact, it is by default installed on all iPhones. Along with easy installation, Apple Music offers a free trial of the first 3 months to the new users. It allows the company to attract a lot of free users; once they like the music, unlimited access to the music library, they are willing to pay for it.
Multiple Package Plans
Apple Music offers multiple price package plans for different types of users; students, individuals, and family. It allows the company to target different segments of the customer market with multiple price package options. Low-budget users would choose the student packages; the premium users would choose the individual or family package.
24/7 Live Radio Broadcasting
Apple Music offers live internet radio broadcasting of various channels along with music library access 24 hours a day, 7 days a week; and 365 days a year. 24/7 feature helps the company to easily and smoothly run its operations globally.
Following Artist Page
Apple Music allows its artists to create their own separate artist pages; and gives users and subscribers an option to follow their favorite artists. It allows them to be aware of the latest updates and upcoming songs of the artist.
Weaknesses of Apple Music
Some of the main internal weaknesses in the Apple Music SWOT analysis example company as business strategy analysis are as follows;
Expensive Package
Many marketing experts have pointed out the fact that Apple Music is charging higher prices for its family and individual package plans. Especially if you compare it with other competitive streaming platforms. It is a good marketing and promotion strategy; that’s why the company has a limited number of users than other competitive platforms.
Low Pay to Artists
Apple is the world’s top revenue-generating multinational tech giant company. Many critics have raised the concern that Apple Music and other streaming platforms are paying less to musicians and artists. In fact, they went on to say that the company is exploiting their talent and earning billions of dollars from their sweat and blood.
Opportunities for Apple Music
Some of the main available opportunities in the Apple Music SWOT analysis example company as business strategy analysis are as follows;
Market Expansion
There is no doubt Apple Music is operating its business in 167 countries across the world; the platform has only 88 million users and subscribers. There is great room for growth and expansion; the streaming platform should enter new geographies and regions in various countries across the world.
Portfolio Expansion
Apple Music should expand its audio and video content portfolio by including web series, films, dramas, documentaries, short videos, and other entertainment options. It would help the company attract the attention of new users and retain the existing ones by offering them a variety of entertainment options.
Innovation
Apple Music should keep innovating and developing new features, functions, and options for its streaming platform. It allows the company to provide great experiences to the subscribers; it would increase brand loyalty and customer satisfaction levels.
Threats to Apple Music
Some of the main potential threats in the Apple Music SWOT analysis example company as business strategy analysis are as follows;
Competition
The music streaming and video content entertainment industry has become highly competitive over the years. It poses a significant challenge to the streaming platform Apple Music to hold and maintain its market share in the presence of tough competition.
Regulations
The regulations for the entertainment industry and streaming platforms are very strict in different countries. It may not be the case in Europe and America, but it is a serious problem in developing countries and under authoritarian regimes.
Conclusion: Apple Music SWOT Analysis Example Company |SWOT Analysis of Apple Music |Business Strategy Analysis
After an in-depth study of the swot analysis of Apple Music; we have realized that Apple Music is the world’s audio-video music streaming platform. If you are learning about Apple Music SWOT analysis example company; then you should keep in mind the abovementioned internal strengths and weaknesses; external opportunities and threats as brand strategy analysis.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.
