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Home / News / Business News / Music streaming wars: Spotify leads despite big growth by rivals
  • Business

    Music streaming wars: Spotify leads despite big growth by rivals

    Mudit Dube
    Written by
    Mudit Dube
    Twitter
    Last updated on Apr 05, 2020, 06:12 pm
    Music streaming wars: Spotify leads despite big growth by rivals
  • Last year, the music streaming business grew by a stunning 32% year-on-year with total subscriptions reaching 358 million, according to market research firm Counterpoint Research.

    Spotify continued to lead the charts by grabbing a 35% share of the total subscriptions despite big growth recorded by rivals. In 2019, Apple Music grew 36% while Amazon Prime Music recorded a 50% increase in its subscription base.

  • In this article
    Music subscriptions driven by exclusive content, promotional activities Here's how some of the leading services performed in 2019 Gaana continues to lead in the Indian market Music subscriptions to 'exceed 450 million' by 2020-end
  • Information

    Music subscriptions driven by exclusive content, promotional activities

  • As per Counterpoint, global online music subscriptions grew by a strong 32% YoY due to the availability of exclusive content like podcasts and originals. The firm noted that promotional activities like price cuts in subscriptions and bundled offers from telcos also helped promote growth.

  • Rankings

    Here's how some of the leading services performed in 2019

  • Last year, Spotify topped the charts by grabbing a 35% share of the total paid subscriptions. Apple Music, which grew 36% YoY, took the second spot by capturing a 19% share of the total subscriptions.

    Amazon Music settled for third place with its subscriptions reaching a 15% share last year, recording an impressive 50% annual growth. YouTube Music managed 6% of the total subscribers.

  • Information

    Gaana continues to lead in the Indian market

  • Talking of country-wise growth, Gaana continues to lead in the Indian market. Tencent Music Group, with popular apps like QQ Music, Kugou and Kuwo, tops the Chinese market. In Russia, Yandex takes the number one spot.

  • Forecast

    Music subscriptions to 'exceed 450 million' by 2020-end

    Music subscriptions to 'exceed 450 million' by 2020-end
  • Counterpoint expects online music streaming subscriptions "to grow more than 25% YoY to exceed 450 million subscriptions by the end of 2020."

    The market research firm also noted that the impact of the COVID-19 pandemic will also bring a small increase in the OTT industry as millions of users move away from music streaming to news channels and podcasts for the latest updates.

  • Spotify
  • Apple Music
  • Amazon Prime Music
  • Gaana
  • YouTube Music
  •  
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