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 for Q2 last year, but the report was only recently published.
Second place goes to 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 is the fastest growing service in the industry.
But with a rapidly growing number, everyone is in a way winners. The entire market grew by 26.4% year-on-year and subscribed to a total of 523.9 million people worldwide. This caused Spotify’s share in the second quarter of 2021 to fall slightly compared to 34% in 2019 and 33% in 2020.
