We undoubtedly liked music streaming services a lot. Using them is convenient and subscriptions are not very expensive. However, there is only one market leader – Spotify, as illustrated by the latest report.
A report by MIDIA Research was released to the network, and although it shows us data for the second quarter of last year, we can take a look at the popularity of individual streaming services. Spotify ranks first with 31% of the market share. It should rather come as no surprise to anyone. The website offers a lot, and the monthly fee is reasonable, especially when we can share the costs with family members as part of an appropriate plan.
The graph also shows us that Apple’s service came second, but despite the podium, the difference between Apple Music and Spotify is huge. In third place, with a score of 13%, we have Apple Music and Tencent Music. YouTube took it even further, reaching just 8% of the market share.
When it comes to the overall market, we are talking about 523.9 million subscribers around the world. Compared to 2020, this means an increase by as much as 26.4%. However, despite the great result, Spotify lost some popularity compared to the same period in previous years. In 2020 and 2019, the website had 33% and 34% of the market share, respectively.
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