Apple Music Passes 40 Million Subscribers, Spooking Spotify Investors

Apple's (AAPL) subscription music service Apple Music has passed 40 million paying subscribers, according to a news report, which sent shares of recent IPO Spotify Technology (SPOT) tumbling on Wednesday.

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The company disclosed the news in an internal memo announcing new leadership for the business, according to Variety.

It also has promoted Oliver Schusser to head Apple Music Worldwide. He will serve as vice president of Apple Music and international content and report to the...

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