Apple’s iTunes Music subscription service is on track to hit $100 million in revenue in Q3 2018

In a rare move, Apple’s newly launched iTunes Music service, which launched in October, is on pace to hit a million subscribers in the first quarter of next year.

The company told investors Tuesday that the service will now be selling more than 1 million subscriptions per day, or more than 3 million a day in the third quarter of 2018.

The number of subscribers is the first to come out of Apple’s quarterly earnings call.

While the service is not yet on track for 100 million subscribers, analysts believe it could hit that milestone as early as Q3 2019, when it will likely be selling between 2 million and 2.5 million a year, according to The Information.

The service, also referred to as the Music Box, offers a wide range of music-related products including access to over 4 million songs from artists like Beyoncé and Lady Gaga.

Apple is also looking to monetize its new service with a subscription service for streaming music, which it is currently planning to launch in the fourth quarter of 2019.

It is currently working on a plan for this.

The company has not announced a release date for the subscription service, but Apple has previously said that it will roll out the service by the end of the year.

Apple said in its quarterly earnings report that its streaming music service will help it achieve “significant subscriber growth in the coming years.”

Apple said the service, now in beta, is “one of the first of its kind for an entertainment service that offers unlimited playlists, unlimited storage and access to thousands of hours of music streamed to iTunes, plus many additional features such as streaming to iHeartRadio, iTunes Radio, Apple Music and Spotify.”

The company also plans to add another 300 million subscribers by the fourth year of the service.


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