New research in the music streaming industry reveals that Apple Music represents about 15% of its global market, while Spotify it holds about 30% of it. The service of the Cupertino company, therefore, earns a deserved second place in the sector. Followed by Amazon Music e Tencent Music, with a respectable 13% share. And from YouTube Music, which represents just 8% of global subscriptions.
Apple Music is the second most used music platform after Spotify
Just yesterday MIDiA Research has published a report containing global data relating to the music streaming market in the second quarter of 2021. Apparently, the number of users who subscribe to platforms in the sector is constantly growing: in the period considered, in fact, well 523.9 million people have subscribed to at least one of the many services offered. Thus scoring a growth of 26.4% compared to the same period of 2020. In this panorama, Apple Music accounts for around 15% of subscriptions, which means it has already exceeded 78 million subscribers. Yet, this is not even enough to bring it closer to Spotify’s numbers.
In the period up to the second quarter of 2021, in fact, Spotify had over 160 million subscribers. That is more than double that of the Apple platform. Yet the report notes that Spotify’s market share has dropped from 34% in 2019 to 33% in 2020, and now to 31% in 2021. And while this does not allow it to lose the lead, it shows that its competitors they managed to convince part of his audience. But that doesn’t mean that companies’ revenues have grown as well. Many subscribers pay lower rates due to special memberships, family promotions, or more, which doesn’t always translate into higher earnings. Rather, it is limited to market share.