More people than ever are paying to stream music
New stats from Midia Research say that more people are cool with the idea of paying to stream music. According to their latest research, there are 921.6 million global subscribers, which is up 10.1% year-over-year.
At this rate, the total number will reach one billion by the end of the year. When Spotify first signed on in 2008, no one thought that possible.
Spotify is still the big gorilla in this space (31.4% of the market), but YouTube Music is gaining in terms of percentage increases. And most of the gains across all DPSs came from the Global South (Latin America, Asia Pacific, and the rest of the world).
How is everyone else doing?
- Tencent Music: 13.8% (127.2 million paying subscribers)
- Apple Music: 12.6% (116.1 million)
- YouTube Music: 12.4% (114.3 million)
- Amazon Music: 8.5% (78.3 million)
