According to a report by MIDIA Research, the music streaming market continues to grow, with Spotify still leading the way with a significant market share of 31%. The data covering the second quarter of last year is a bit old, but the report wasn’t made public until recently.
In second place is Apple’s streaming service with a 15% market share, followed by Amazon Music with a 13% market share. The latter is tied for third place with Tencent Music, while Google’s YouTube Music only has an 8% share. However, the report states that it is the fastest growing service in the industry.
But with the numbers growing fast, everyone is a winner in some way. The overall market grew 26.4% year over year, with 523.9 million subscriptions worldwide. This resulted in a slight decline in Spotify’s share in the second quarter of 2021 compared to 34% in 2019 and 33% in 2020.
