The above graph represents the global music streaming paid subscriptions by brand share in CY 2019. The Global online music streaming subscriptions grew 32% YoY in CY 2019, to reach 358 million subscriptions. Spotify once again secured the top spot with 35% share of the total paid subscriptions. The growth was primarily driven by the company’s promotional activities such as free Spotify Premium for three months, price cuts, customized campaigns, etc.
With 19% share of the total paid subscriptions, Apple Music is giving the stiff competition to Spotify in global music streaming market. Apple’s Services business which includes Apple Music, continues to grow rapidly, with 17% YoY growth during Oct-Dec 2019 quarter.
The share of Amazon Music subscriptions in global music streaming market increased to 15% share in 2019, from 10% in 2018.
One must note that more than 80% of music streaming revenue came from paid subscriptions, and the rest from advertisements and partnerships with brands and telcos.
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