According to new market research, Apple Music is the second most popular music streaming service in the world, but still lags behind.
According to a new report by Midia Research, Apple Music subscribers made up 15% of all streaming service subscribers in the second quarter of 2021, placing it in a distant second place behind Spotify.
Although this represents a small drop from the previous year, it is still more than double the amount of the second place service. The market share of both Amazon Music and Tencent Music was 13%.
The highest market share is still 31%), but this is down from 34% in Q2 2020 and 33% in Q2 2019. With Apple Music being a distant second with 15% market share, and Spotify adding more subscribers in the 12 months leading up to Q2 2021, there is no risk of it losing its leading position anytime soon.
According to the report, Amazon Music again outperformed Spotify in terms of growth, growing 25% compared to 20%, however YouTube Music was the leader for the second year in a row, growing by more than 50% in the 12 months leading up to the second quarter of 2021.
According to the report, the only service to increase its global market share was YouTube Music, thanks to its popularity with Gen Z and younger Millennials.
The launch of YouTube Music has transformed the fortunes of the company, as it has grown by more than 50% in the 12 months leading up to Q2 2021. During the period, the only Western DSP to increase market share was YouTube Music. The core base of young people in the West are starting to age, and that should have alarm bells ringing forSpotify, as their core base of young people in the West are starting to age.
Apple added support for Spatial Audio and Lossless audio at no extra cost to subscribers. Apple Music Voice is a new subscription plan that only relies on the voice of the person talking to it.
The report states that the global market for streaming music grew by over 100 million by the end of the second quarter of the year, and the total number of subscribers reached over 500 million.