YouTube makes gains, Spotify and Apple continue to dominate music-streaming subscriptions

Posted on: January 24, 2022

“A study released by Midia Research shows that worldwide streaming subscriptions grew by a healthy 26.4% in the second quarter of 2021,” writes Chris Willman in Tuesday’s (1/18) Variety. “Spotify continued to have by far the highest market share among streaming services, with its 31% slice of the pie being more than double the 15% claimed by the nearest runner-up, Apple Music…. But … Spotify had a 33% share at the same time a year before and 34% in 2019. So who’s benefitting most from the industry’s gains? Midia points to the momentum belonging to YouTube Music, which still has a modest share—just 8% of the market—but which grew by more than 50% during the 2020-to-2021 Q2 period…. The news was also fairly good for second-place Apple Music, which saw gains of 25%, versus Spotify’s 20% growth…. Two services that are only available in China, Tencent Music Entertainment and NetEase Cloud Music, together account for 18% of the global streaming market—and those two combined added 35.7 million subscribers during the 12 months measured…. Streaming is getting hotter in [Russia, with Yandex] ‘doubling its subscriber base to reach 2% of global market share, said [Midia’s Mark] Mulligan.”