MIDiA Research released a new report on Wednesday with global figures for the music streaming services market based on the second quarter of 2021. While Apple Music is the second most used music platform, it is still far behind Spotify.
According to research, the number of people subscribing to music streaming services continues to grow rapidly. In the second quarter of 2021, 523.9 million people subscribed to one of these platforms, an increase of 26.4% compared to the same period in 2020.
Apple Music accounts for 15% of subscriptions to global music platforms, meaning it has already surpassed 78 million paid subscribers. However, those numbers still don’t bring it closer to Spotify, which unsurprisingly still holds the top spot in the global rankings.
Apple’s main competitor had more than 160 million paid subscribers in the second quarter of 2021, twice as many as Apple Music. However, the research firm notes that Spotify’s market share has fallen from 34% in 2019 to 33% in 2020 and now 31% in 2021. Although there is no risk that Spotify will lose its position as leader at this point, the competition has certainly taken some of its users.
Amazon Music is second only to Apple Music with 13% market share, but MIDiA Research points out that YouTube Music is the fastest growing service for the second year in a row – now with 8% market share.
Another thing to keep in mind is that while the music streaming service’s total subscriber count has increased in 2021, that doesn’t mean business revenue is significantly higher. Indeed, some subscribers pay less due to family plans, special plans (like Apple One) or reduced prices in emerging markets, as MIDiA explained.
The standard Apple Music subscription costs $9.99 in the US, but there are special prices for families, students, and Apple One subscribers. More details on the research can be found here.
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