Spotify

Lyricify fetches song lyrics for any Now Playing song

Not everyone cares about song lyrics, but if you’re the type of person who likes to follow along with whatever it might be that you’re listening to, then we have no doubt that you’ll enjoy a newly released jailbreak tweak dubbed Lyricify – originally by iOS developer ConorTheDev and more recently passed to iOS developer Renaitare.

As depicted in the screenshot examples, Lyricify was beautifully designed to display your favorite song lyrics directly on your handset’s Lock screen in an Apple-esque manner. With that in mind, the tweak looks and feels native, making it feel both familiar and easy to use.

Streaming music has changed how we listen to music

Some new statistics from the Recording Industry Association of America (RIAA) got me thinking about how streaming has utterly transformed the music business, and my own personal relationship with music. 80% of recorded music industry revenue now comes from streaming services, compared with 7% a decade ago. Streaming has reshaped the music industry, and it's also reshaped our personal relationship with music.

Spotify claims twice the subscription rate of Apple Music

Spotify Stations focus on playlists

Spotify announced results for its third fiscal quarter 2019, reporting revenue of €1.7 billion ($1.9 billion), up 28% Year over Year (YoY) and up 4% Quarter over Quarter (QoQ). The company posted an operating profit of €54 million ($60 million). The company also claimed it's adding twice the subscribers per month as Apple is with Apple Music:

Relative to Apple, the publicly available data shows that we are adding roughly twice as many subscribers per month as they are. Additionally, we believe that our monthly engagement is roughly 2 times as high and our churn is at half the rate.

In June Apple noted that Apple Music had surpassed 60 million paid subscribers, up from the 50 million it had reported this past January. Apple is next set to report fiscal results on October 30th, when we might get an updated indication of its efforts with Apple Music.

Spotify said that its customer retention efforts are paying off with vigorous efforts to attract podcast listeners and a better onboarding experience. The company counts 248 million Monthly Active Users (MAUs) at present, up 30% YoY. It exited Q3 with 113 million Premium subscribers, up 31% YoY. Premium subscription feess accounted for about 90% of the company's quarterly revenue.

Spotify attributed its rosy news in part to higher gross profit and less-than-expected expenses related to marketing, promotion, and R&D. It also noted to investors that it expects to report an operating loss for the coming quarter.

Do you use Spotify and Apple Music? Or have you made the switch from one to the other? Which do you prefer? Sound off in the comments and let us know.