Streaming music report highlights battle between Spotify, Amazon, Apple, and YouTube



 Spotify reached a 31 percent market share in the second quarter of 2021, with Apple Music in second place with 15 percent, and Amazon Music and Tencent Music in third place with 13 percent. According to a report by Midia Research, a media, and entertainment research and analysis firm.

According to the study, the number of people who use music streaming services is rapidly increasing. There were 523.9 million people who had signed up for one of these platforms by the second quarter of 2021, up 26.4 percent from the same period in 2020.

Apple Music has already surpassed 78 million paid subscribers, accounting for 15% of all global music platform subscriptions. These figures, however, do not even come close to matching Spotify’s global share, which is, unsurprisingly, still in the first position.

By Q2 2021, Apple’s major competitor had over 160 million paid customers, more than twice as many as Apple Music. However, according to the research firm, Spotify’s market share has decreased from 34% in 2019 to 33% in 2020 and now 31% in 2021. While Spotify isn’t in danger of losing its lead at this point, the competition has been stealing some of its users.

With a 13 percent market share, Amazon Music is right behind Apple Music, but Media Research notes that Youtube  Music is the fastest growing service for the second year in a row, with an 8 percent market share.

It’s also worth noting that YouTube Music, with an 8% market share, is the fastest growing service for the second year in a row. The reason for this, according to Mark Mulligan of Midia, this is because YouTube as a brand is solely and habitually functioning in the minds of Gen Z and young Millennial consumers as their primary music consumption channel. Spotify has a larger market share than both Apple Music and Amazon Music put together. Spotify’s data also demonstrated that it is still the most popular streaming service, despite the fact that several players are attempting to compete with it.

Apple Music, on the other hand, is fast accumulating more users than in 2020, according to recent music subscription data. Global streaming is on the rise, thanks in part to Covid-19’s boredom. On-demand music streaming services like Apple Music and Spotify grew 16.2 percent globally in 2020 compared to 2019.

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