MIDiA Analysis on Wednesday printed a brand new report with international figures for the music streaming providers market based mostly on the second quarter of 2021. Whereas Apple Music is the second most used music platform, it’s nonetheless far behind Spotify.
In line with the analysis, the quantity of people that subscribe to music streaming providers continues to develop rapidly. By the second quarter of 2021, there have been 523.9 million individuals who subscribed to considered one of these platforms, which is a 26.4% improve from the identical interval in 2020.
Apple Music accounts for 15% of world music platform subscriptions, which signifies that it has already surpassed 78 million paid subscribers. Nonetheless, these numbers nonetheless don’t put it wherever near Spotify, which unsurprisingly continues to be in first place within the international rating.
Apple’s predominant competitor had over 160 million paid subscribers by Q2 2021 – which is twice as a lot as Apple Music had. Nonetheless, the analysis firm notes that Spotify’s market share dropped from 34% in 2019 to 33% in 2020 and now 31% in 2021. Whereas there’s no danger of Spotify shedding its main place at this level, the competitors has actually been taking a few of its customers.
Amazon Music is available in proper behind Apple Music with 13% market share, however MIDiA Analysis factors out that YouTube Music is the quickest rising service for the second yr in a row – now with 8% market share.
One other factor to remember is that whereas the general variety of music streaming service subscribers has grown in 2021, this doesn’t imply that the businesses’ income is considerably larger. That’s as a result of some subscribers pay much less as a result of household plans, particular bundles (like Apple One), or lowered costs in rising markets, as MIDiA defined.
The usual Apple Music subscription prices $9.99 in the US, however there are particular costs for households, college students, and Apple One subscribers. Extra particulars concerning the analysis could be discovered right here.
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