Apple Music the second most used music streaming service,…

apple music logo.jpg
apple music logo.jpg

MIDiA Research published on Wednesday a new report with global figures for the music streaming service market based on Q2 2021. While Apple Music is currently the second most used music service, it still lags far behind Spotify.

According to research, the number of people subscribing to music streaming services continues to grow rapidly. For the second quarter of 2021, there were 523.9 million people subscribed to one of these platforms, which represents an increase of 26.4% compared to the same period in 2020.

Apple Music the second service behind Spotify

Apple Music represents 15% of subscriptions to global music platforms, which means that it has already exceeded 78 million paid subscribers. However, these numbers still don’t put it anywhere near Spotify, which, unsurprisingly, still ranks first in the world.

Apple’s main competitor had more than 160 million paying subscribers in the second quarter of 2021, which is double what Apple Music had. However, the research company notes that Spotify’s market share fell from 34% in 2019 to 33% in 2020 and now to 31% in 2021. While there is no risk of Spotify losing its leadership position at this time , the competition has certainly been taking some of its users.

Amazon Music comes in just behind Apple Music with a 13% market share, but MIDiA Research notes that YouTube Music is the fastest growing service for the second year in a row, now with an 8% market share.

Another thing to keep in mind is that while the total number of music streaming service subscribers has grown in 2021, this does not mean that the companies’ revenues are significantly higher. That’s because some subscribers pay less due to family plans, special bundles (such as Apple One), or reduced prices in emerging markets, as MIDiA explained.

The standard subscription AppleMusic It costs $9.99 in the US, but there are special prices for families, students, and Apple One subscribers.