Google Music Is Massive Failure According To Google’s Own Projections [CHARTS]
When Google launched its music service, there was hope that, despite being late to the download party, a real iTunes alternative might finally be in the making. According to financial documents shared as part of the ongoing trail with Oracle, Google themselves projected $1.5 billion by this year. But in reality, Google Music revenues are just a tiny fraction of that hoped for number.
Macquarie analyst Ben Schachter projects that Google Music will actually generate less than $100 million this year, calling music Googe's "biggest miss".
Google knew that Apple was a fierce competitor in music and had a major head start, but at least back in 2010 the company projected that music would contribute $2.4 billion of a total of $3.7 billion in gross Android related revenue in 2013.
Google documents via Digits
Its crazy the difference in expectations when you put the name “Google” on something. Imagine if another online store started in 2011 and within its first year generated around 100 Million dollars? Thats some pretty amazing growth in one year if you ask me.
This doesn’t surprise me much. It seems Google has lost it’s way & only copies what others already had a success with these days.
I saw this sort of exponential growth forecasting in a large telco to justify new business projects, I guess it’s part of a culture of an organisation that thinks it owns a market to almost monopoly status.. It starts to develop a god like culture & needs to develop some humility.
I’m not convinced the goal was to SELL music as much as it is to ACQUIRE consumer data… data is the new oil right?
Google blows Apple away. The ability to brainwash people into one idea has been the only more successful thing of Apple to google!
Sorry, but lame.
I really like Google Music but am also a Spotify premium member. I use Spotify way more, because not only can I find almost every album in my Google Music Locker, but I can also find new artists and play them as part of my $80 (?) annual fee AND share my artists played on Facebook and Twitter. If Google were to only open it up to social media sites like FB and Google Plus, more people would use it. Audiophiles love to share and show their friends what they’re listening to and like to be exposed to new music.