According to estimates from Insider Intelligence, Amazon Music will become the second most popular music streamer in the US this year.
According to the forecast, Amazon Music is expected to grow 5.3% over the next year, while Pandora's user base is expected to decline by 6.7%. A representative from the company declined to comment on the new report, but said that they are the leading ad-supported audio streaming service in the U.S.
According to Insider Intelligence, Pandora lags far behind its competitors when it comes to paid subscribers. Below is a picture.
The number one U.S. music streamer has 180 million premium subscribers and 406 million monthly active users. In North America, there are 93.38 million active users and 28.6 million paid subscribers. It's hard to compare the size of the audience of the two services, since the numbers don't narrow down by country. The company made a gross profit of $743 million last year, up 30% from the year before.
The product has seen improvements as Amazon Music continues to grow. Amazon Music and Apple Music both introduced a feature for all subscribers last year, but it's not yet available on Spotify. Amazon has tried to increase the number of its podcasts. Despite the platform's controversial content decisions, it continues to grow its listenership. It's clear that Spotify doesn't want to loosen its grip on the streaming industry.
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