Sunday December 04, 2022

Streaming music report sheds light on battle between Spotify, Amazon, Apple, and Google

Spotify was the largest music streaming platform in the world at 31 percent market share in the second quarter 2021. Apple Music came in second at 15 percent, while Tencent Music and Amazon Music tied for third at 13 percent each. That’s according to a report from Midia Research, a media and entertainment-focused research and analysis agency.Although exact subscriber numbers and market shares may have changed in the months since Q2 2021 (the use of older data is because of how long the market analysis process takes, Midia tells me), the report sheds light on how the world’s biggest music streaming services are stacking up against one another. Spotify releases official subscriber numbers at each quarter’s end (most recently, October last year), but competitors like Apple and Amazon are less forthcoming with precise figures. Music Ally has the most recent official figures from 2019 and 2020.
Midia claims that Spotify had 523.9 million music streaming subscribers in Q2 2021. This would mean that Spotify had just 162.4 million paying subscribers for its music streaming service. However, the official figure for Q2 is 165 million. Midia’s estimates would put Apple Music at just 78.6 millions subscribers, while Amazon Music and Tencent Music, which are exclusive to China, at just over 68.1 million. YouTube Music is fifth with an 8. percent market share, which corresponds to 41.9 million subscribers.
Midia reports that the music streaming market continues to grow and grew by 26.4 percent in the second quarter last year. Midia notes that Spotify’s dominance means that it is unlikely to be overtaken anytime soon. However, its market share fell from 33 percent to 31 percent Q2 2020 to 31 per cent Q2 2021. Amazon and YouTube Music grew by more than half a percent compared to one year ago. The growth in emerging markets was also strong with Yandex and Tencent growing by a combined 37%.
These figures are unlikely to reflect the full impact of lossless audio streaming changes last year since they date back to the second-quarter of last year. Apple Music, for instance, added spatial and lossless audio streaming features to its service in June. Amazon, however, stopped charging extra for lossless streaming services in May. Spotify’s new HiFi tier was not released in the 2021 release window, despite it making a big announcement with its lossless audio streaming feature.

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