THE NEWS WRAP: Apple Music has 11 million users, doesn’t really mean anything

Apple has gone public for the first time with the stats for its music streaming service, saying it has already amassed 11 million users.

 

But Apple Music only launched at the end of June and is offering three-month free trials, so no meaningful figures on paying customers will emerge until September.

 

Spotify boasts 20 million paying users and 55 million customers using the free version, so that’s what Apple is up against.

 

“We’re thrilled with the numbers so far,” senior vice-president Eddy Cue told USA Today.

 

Let’s just see if they’re still thrilled once the free trials come to an end.

 

Another startups reclassifies its workers as employees

On-demand meal service Sprig has joined a growing number of startups in reclassifying its workers from contractors to employees.

 

As Re/Code reports, Sprig delivery people will now gain access to all the benefits of being proper employees, including expenses, vacation time and healthcare.

 

It comes as fellow startups Instacart and Shyp have also recently made the switch, while giants Uber and Lyft are currently embroiled in lawsuits over their classification of drivers as contractors.

 

Zynga beats financial predictions but sheds users

Online game startup, and the reason for all those annoying FarmVille invitations, Zynga has beaten predictions for the second quarter, but continues to lose users at a rapid rate.

 

The company announced revenue of US$200 million, up 30% year-on-year, TechCrunch reports.

 

But the starutp’s user base is still in decline, dropping 23% year-on-year to 21 million.

 

It illustrates just how tricky the app and online gaming realms are now, with so much relying on that one fickle viral hit.

 

Overnight

The Dow Jones Industrial Average is down 120.72, falling 0.69% overnight to 17,419.75. The Australian dollar is currently trading at US73 cents.

 

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