According to a report by MIDIA Research, the music streaming market continues to grow with Spotify still in the lead with a significant market share of 31%. The data is somewhat old covering Q2 of last year, but the report was only recently made public.
Second place takes Apple’s streaming service with 15% market share followed by Amazon Music with 13% share. The latter shares third place with Tencent Music while Google’s YouTube music gets only 8%. However, the report notes that it’s the fastest-growing service in the industry.
But with rapidly growing numbers, everyone is a winner in a way. The whole market grew 26.4% year-over-year totaling 523.9 million people subscribed worldwide. This caused Spotify’s share in Q2 2021 to drop slightly compared to 34% in 2019 and 33% in 2020.
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