A new report by Midia Research, reveals Apple Music is the world’s second most popular music streaming service, after Spotify.
Spotify wins the industry with the highest market share (31%) – however down from 33% in Q2 2020 and 34% in Q2 2019. Apple came second with a 15% market share, while Amazon Music and Tencent Music acquired 13% market share. YouTube Music makes up 8% of subscriptions globally.
“Spotify remains the DSP with the highest market share (31%), but this was down from 33% in Q2 2020 and 34% in Q2 2019. With Apple Music being a distant second with a 15% market share, and Spotify adding more subscribers in the 12 months leading up to Q2 2021 than any other single DSP, there is no risk of Spotify losing its leading position anytime soon – but the erosion of its share is steady and persistent. Amazon Music once again out-performed Spotify in terms of growth (25% compared to 20%), but the standout success story among Western DSPs was YouTube Music, for the second successive year. Google was once the laggard of the space, but the launch of YouTube Music has transformed its fortunes, growing by more than 50% in the 12 months leading up to Q2 2021. YouTube Music was the only Western DSP to increase global market share during this the period”, the report detailed.
It seems like the biggest subscriber growth came from emerging markets like Tencent Music Entertainment (TME) and NetEase Cloud Music – with 35.7 million subscribers in the 12 months, together summing up for 18% of global market shares.
In terms of growth, Amazon Music outperformed Spotify (25% versus 20%, respectively), but YouTube Music was the standout performer – with more than 50% in the 12 months.