Apple Music Early Conversion Rate Seen as Strong (AAPL)

Apple's (Nasdaq: AAPL) Apple Music is said to have netted about 7.5 million subs within its first three-months of operations, which some inside the company view as a success.

The NY Post said on Monday night that about half of the 15 million that signed up for the three-month Apple Music trial early have switched off auto-pay, meaning they're subscription will end once the initial trial period is over For those that moved quickly on Apple Music, that date is September 30th.

Apple Music's paying userbase would then be about one-third that of Spotify, which was last reported to have about 20 million paying subs. In total, Spotify has about 75 million users.

One industry watcher sees Apple having a successful run with Apple Music this year if the company ends 2015 with 5 million paying subs. The analyst sees a 25 percent conversion rate as successful, with 35 to 40 percent of trial subs expected to make the first payment, and 20 to 25 percent making a second one.

Shares of Apple are down just over 1 percent early Tuesday.

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