Spotify continues its global dominance, adding 27 million net subscribers between Q1 2020 and Q1 2021, more than any other single service. However, it lost two points of market share over the period because its percentage growth rate trailed that of its leading competitors.
Google was the fastest-growing music streaming service in 2020, growing by 60%, with Tencent second on 40%. Amazon continued its steady trajectory, up 27%, while Apple grew by just 12%.
Google’s YouTube Music has been the standout story of the music subscriber market for the last couple of years, resonating both in many emerging markets and with younger audiences across the globe. The early signs are that YouTube Music is becoming to Gen Z what Spotify was to Millennials half a decade ago.
MIDiA Research
Facebook might be the biggest social platform, but it is on the outs with Gen Z. I wonder if Spotify will find itself in the same place in a few years? Despite owning the iOS and Mac platforms, Apple Music is, at best, an average performer. It would be interesting to see how they eventually do in a few years. In case you are wondering, Others include Deezer, Pandora, Yandex, Netease, Tidal, Qobuz, and more.