Different people use different music streaming services as per their choices. There are so many music streaming apps, but we all know how popular Spotify is. Now a report by MIDIA Research claims that Spotify leads the music streaming market with a market share of 31%. Even if the report has been released recently, it covers Q2 2021.
The report also compared the data with historical data making it clear that Spotify is slowly losing its market share. It had a 33% market share in Q2 2020 and 34% in Q2 2019. However, Spotify still has a big lead and won’t lose its top place in the coming months.
Apple Music is second with a 15% market share. Now see how big a margin Spotify maintains from Apple Music. Amazon Music and Tencent Music hold 13% market share to share the third place.
YouTube Music just had 8% of the market share but the app has grown really fast and grew by more than 50% in the 12 months leading up to Q2 2021.
The music Streaming market also grew by 26.4% year-over-year and had around 523.9 million users globally.
