Spotify is the most popular service, but Apple Music is quickly catching up. According to a recent report, Apple Music has surpassed 15% market share, becoming the second most popular music streaming service in the world.
A new report from Midia Research reveals that Apple Music is the second most popular music streaming service in the world after Spotify.
When it comes to streaming music, there are some big names in the industry. Spotify is the most popular service, but Apple Music is quickly catching up. According to a recent report, Apple Music has surpassed 15% market share, becoming the second most popular music streaming service in the world. world. It’s quite an accomplishment for a company that launched its music streaming service just a few years ago. With so many users, Apple Music is fast becoming a force to be reckoned with in the music industry. So what makes Apple Music so popular? Let’s see..
Spotify has the largest market share in the industry (31%) – however, it saw a decline of 33% in Q2 2020 and 34% in Q2 2019. Apple came in second with a market share of 15%, while Amazon Music and Tencent Music acquired 13% market share. YouTube Music makes up 8% of subscriptions worldwide.
“Spotify continues to be the DSP with the highest market share (31%), but this has been reduced from 33% in the second Q2 2020 and 34% Q2 2019. With Apple Music a distant second with a 15% market share, and Spotify adding more subscribers in the 12 months leading up to Q2 2021 than any other single DSP, There is a risk that Spotify will soon lose its leadership position – but the erosion of its market share is constant and persistent. Amazon Music outperformed Spotify in terms of growth (25% compared to 20%) during the 12 months leading up to Q2 2021. However, the standout success story among Western DSPs was YouTube Music, which grew the most. of 50%. YouTube Music was the only Western DSP to increase global market share during this period,” the report detailed.
It appears that the biggest subscriber growth came from emerging markets such as Tencent Music. Entertainment (TME) and NetEase Cloud Music – with 35.7 million subscribers in 12 months, together totaling 18% of global market shares.
In terms of growth, Amazon Music surpassed Spotify (25% versus 20%, respectively), but YouTube Music was the most prominent artist – with more than 50% in 12 months.
The streaming music industry is in constant change, with the entry of new players in the market and the loss of ground on the part of established operators. Spotify saw its market share decline in Q2 2020, while Apple Music gained ground. Both Amazon Music and Tencent Music made significant gains in their market share. YouTube Music continues to be a strong player in the space. Stay tuned to Androidgeek for all the latest news about this ever-changing industry.
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