Spotify has long ceased to be a streaming music service that everyone turns to when they want to listen to their favorite songs and artists. Today there are more platforms than ever before, so users have a wide selection of options that best suit their needs.
Google has YouTube music, and Amazon has Amazon Music, which works well with company-wise speakers and streaming devices (though Apple Music can also be tuned in). He is the last, Apple Music, which has grown significantly since its launch in June 2015
Of course, the way music is used has changed. Few and few people buy physical CDs or albums and songs in digital form in stores like iTunes. The proof of this is that the market for streaming music subscription services has grown 32% in 2019 compared to the previous year. According to Counterpoint Research, 358 million subscribers have been reached.
Spotify remains the leader, with Apple Music second
Swedish Spotify continues to be the leading music streaming service in the market. The year ended with 31% of total revenue, and 35% of paid subscriptions. Apple's proposal, Apple Music, ranked second with 24% of total revenue and 19% of subscribers. Subscriptions to Apple Music are expected to grow 26% over the past year
At Counterpoint Research they claim that Spotify has taken the first place to thank the promotion of free three-month Premium accounts, price cuts, personalized campaigns and exclusive content. Still, they do Giants like Amazon, Apple and Google have enough money to offer stiff resistance against the Nordic option.
Over 80% of the revenue came from paid subscriptions, and the rest came from ads and interactions with brands and telemarketers. Analysts believe that by the end of 2020 it will have registered 450 million people.
Track | MacRumors
Pictures | Do not take it out
