Apple Music could have made nice strides in 2019, however Spotify stays on prime of the music streaming business that noticed a major increase in subscriptions final 12 months.
Online music streaming subscriptions internationally increased by 32% in 2019, for a complete of 358 million subscribers, in keeping with the most recent findings of Counterpoint Research. The agency attributed the regular development of the business to components that embody unique content material comparable to podcasts, and promotions comparable to decreased subscription costs and bundle provides from carriers.
Spotify vs. Apple Music
Spotify continues to dominate, with 31% of the music streaming business’s whole income and 35% of whole paid subscriptions. Counterpoint analyst Abhilash Kumar stated that Spotify was in a position to preserve its prime spot as a consequence of promotions comparable to a free three-month trial for Spotify Premium, reductions, personalized campaigns, and a give attention to offering unique content material to subscribers.
Apple Music, in the meantime, had 24% of whole income and 19% of whole paid subscriptions in 2019, with a 36% improve in subscription numbers final 12 months. Apple continues to make enhancements to its music streaming service with the introduction of night time mode and curated playlists that focus on teams, nevertheless it nonetheless has a steep hill to climb to meet up with Spotify.
In Digital Trends’ comparison of Spotify and Apple Music, Spotify has the sting with its accessible consumer interface and music uncover playlists, although Apple Music stays a severe contender with its bigger catalog, unique releases, and options like Beats 1 Radio.
Music streaming in 2020
Counterpoint expects on-line music streaming subscriptions to extend by greater than 25% by the tip of 2020, for a complete of greater than 450 million subscribers.
More than 80% of the income generated by music streaming providers are from paid subscriptions, in keeping with Counterpoint, with the remainder coming from commercials and partnerships with manufacturers and carriers. This signifies that growing their paid subscriber base is a precedence for the assorted platforms.
Spotify should be on prime, and Apple Music could also be making progress, however for 2020, these two providers might want to proceed improving their providers and including new options not simply to steal subscribers from one another, but in addition to take care of their distance from the likes of Amazon Music, YouTube Music, and Tidal.