Apple Music Is the World’s Second Most Popular Music Streaming Service Behind Spotify
Apple Music is the second hottest music streaming service globally, however stays far behind Spotify in its persevering with quest for streaming dominance, based on new market analysis.
According to a brand new report by Midia Research, Apple Music subscribers made up 15% of all streaming service listeners in the international market in the second quarter of 2021, putting it in a distant second place behind Spotify.
Spotify remained the dominant service, commanding greater than double that quantity with 31% of the worldwide market share, though this represents a small drop from 33% in 2020. Amazon Music and Tencent Music each took a 13% market share, with YouTube Music making up 8% of subscriptions globally.
Spotify stays the DSP with the highest market share (31%), however this was down from 33% in Q2 2020 and 34% in Q2 2019. With Apple Music being a distant second with 15% market share, and Spotify including extra subscribers in the 12 months main as much as Q2 2021 than some other single DSP, there is no such thing as a threat of Spotify shedding its main place anytime quickly – however the erosion of its share is regular and chronic.
According to the report, Amazon Music once more outperformed Spotify by way of progress (25% versus 20%, respectively), nonetheless YouTube Music was the standout performer for the second successive yr, rising by greater than 50% in the 12 months main as much as the second quarter of 2021.
YouTube Music was the solely service to extend its international market share throughout this the interval, due to its reputation with Gen Z and youthful Millennials, based on the report.
Google was as soon as the laggard of the house, however the launch of YouTube Music has remodeled its fortunes, rising by greater than 50% in the 12 months main as much as Q2 2021. YouTube Music was the solely Western DSP to extend international market share throughout this the interval. YouTube Music significantly resonates amongst Gen Z and youthful Millennials, which ought to have alarm bells ringing for Spotify, as their core base of Millennial subscribers from the 2010s in the West are actually starting to age.
Meanwhile, Apple continued to bolster its music streaming service in 2021 by including assist for Spatial Audio and Lossless audio at no additional value to subscribers. The firm additionally launched a brand new subscription plan known as Apple Music Voice that solely depends on Siri for music playback and person interplay.
The report notes that the international marketplace for streaming music grew by 109.5 million by the finish of Q2 2021 (round 26% year-on-year) and the whole variety of subscribers reached virtually 524 million listeners.