Apple Music is the second most used music streaming service

MIDiA Analysis on Wednesday printed a brand new report with international knowledge for the music streaming providers market based mostly on the second quarter of 2021. Whereas Apple Music is the second most used music platform, it nonetheless lags far behind Spotify.

In accordance with analysis, the variety of individuals subscribing to music streaming providers is rising quickly. As of the second quarter of 2021, there have been 523.9 million individuals subscribing to one in all these platforms, a rise of 26.4% from the identical interval in 2020.

Apple Music accounts for 15% of world music platform subscriptions, which implies it has already crossed 78 million paid subscribers. Nonetheless, these numbers nonetheless do not put it anyplace near Spotify, which surprisingly nonetheless ranks first within the international rankings.

Apple’s principal competitor had greater than 160 million paid subscribers as of Q2 2021 — greater than double that of Apple Music. Nonetheless, the analysis firm famous that Spotify’s market share has fallen from 34% in 2019 to 33% in 2020 and now to 31% in 2021. Whereas Spotify is in no hazard of shedding its main place at this level, the competitors is actually taking a few of its customers.

Amazon Music is available in simply behind Apple Music, with a 13% market share, however MIDiA analysis means that YouTube Music is the fastest-growing service for the second 12 months in a row — now with an 8% market share.

One other factor to notice is that the general variety of music streaming service subscribers has elevated in 2021, nevertheless it doesn’t imply that the businesses’ income could be very excessive. That is as a result of some clients pay much less due to household plans, particular bundles (such because the Apple One) or decrease costs in rising markets, as Media defined.

The usual Apple Music subscription prices $9.99 in the US, however there are particular costs for households, college students, and Apple One clients. Extra particulars concerning the analysis could be discovered right here.

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