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+ 32% in 2019, Spotify and Apple Music in the lead


The analysis company Counterpoint Research released its report on music streaming in 2019. It observed a clear increase in subscriptions, with growth of 32%. Spotify and Apple Music lead this market, which now exceeds 350 million subscribers worldwide.

While the coronavirus has a negative impact on many sectors of activity, from aeronautics to aerospace, it should be beneficial for music streaming platforms which invest in podcasts and original content, particularly concerning news induced by the COVID-19.

Spotify, world leader in music streaming in 2019

At the beginning of April 2020, the analysis company Counterpoint Research unveils its study on the evolution of the music streaming market in the world. Unsurprisingly, Spotify remains the leader with 35% market share and 23% growth in total revenue in 2019. It is followed by Apple Music, which accounts for 19% of total paid subscriptions.

Thanks to the strategies implemented by the platforms, the total number of paying subscribers reached 358 million in 2019. Indeed, according to analyst Abhilash Kumar, “ people are willing to pay for streaming music for a carefree experience », But the levers for this increase come from the platforms and their two-step method.

As the Counterpoint Research employee explains: “ first, by registering them on their platform as free users by means of excellent advertising campaigns and then, by inviting them with attractive offers to transfer them to become paying subscribers ” According to the analyst, Spotify thus maintained its first place thanks to its multiple promotions: Spotify Premium free for three months, price reductions, personalized campaigns and special attention to exclusive content

This last point is also crucial: among the new sources of growth, there are notably podcasts which continue to occupy an important place on the platform in 2020.

COVID-19 pandemic will have a positive impact on music streaming

The Counterpoint Research study also forecasts a 25% increase in paid subscriptions in 2020, to exceed 450 million by the end of the year. And this, in a way, due to the global coronavirus pandemic, which drastically changes the consumption habits of subscribers. This is not good news for artists and music creators, for whom Spotify is launching a fundraising platform …

Indeed, according to the analysis firm, ” residents of heavily affected areas are concerned about the epidemic and are therefore constantly on the news on television and radio. The attractiveness of news channels and podcasts increased while that of streaming music fell

That’s why platforms are striving to quickly produce new exclusive content, including news podcasts. It should be noted that locally, the platforms “ regional Exceed these world leaders. Gaana remains number 1 on the Indian market, as does Yandex Music in Russia and Tencent Music Group for the Chinese market, thanks to its QQ Music, Kugou and Kuwo applications.

Source: Counterpoint Research

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