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.
In line with a brand new report by Midia Analysis, Apple Music subscribers made up 15% of all streaming service listeners within the world market within 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 best 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 within the 12 months main as much as Q2 2021 than another single DSP, there isn’t any danger of Spotify dropping its main place anytime quickly – however the erosion of its share is regular and protracted.
In line with the report, Amazon Music once more outperformed Spotify when it comes to development (25% versus 20%, respectively), nonetheless YouTube Music was the standout performer for the second successive 12 months, rising by greater than 50% within the 12 months main as much as the second quarter of 2021.
YouTube Music was the one service to extend its world 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 area, however the launch of YouTube Music has reworked its fortunes, rising by greater than 50% within the 12 months main as much as Q2 2021. YouTube Music was the one Western DSP to extend world market share throughout this the interval. YouTube Music notably 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 within the West at the moment are starting to age.
In the meantime, Apple continued to bolster its music streaming service in 2021 by including assist for Spatial Audio and Lossless audio at no additional price to subscribers. The corporate additionally launched a brand new subscription plan referred to as Apple Music Voice that solely depends on Siri for music playback and person interplay.
The report notes that the worldwide marketplace for streaming music grew by 109.5 million by the tip of Q2 2021 (round 26% year-on-year) and the whole variety of subscribers reached nearly 524 million listeners.