Competition does not slow down on online music platforms. Companies are constantly updating their applications to attract more users. Featured competitors are, of course, Spotify and Apple Music. So which of these platforms are used the most? It is not difficult to guess, but the rankings can change at any time as competition gets hot.
Apple Music is getting bigger
Apple Music has become one of the most popular music platform services in the world. Apple Music is the second most popular music service after Spotify, according to a new report in Counterpoint Research. Global music platforms grew 32 percent annually in 2019, collecting a total of 358 million subscribers.
While Spotify maintains its leading position with a 31 percent share in total revenues and a 35 percent share in total paid subscriptions, Apple Music ranked second with a 24 percent share in total revenue in the industry. According to Apple, the growing interest in podcasts has contributed greatly to this growth. Besides, price competition is also a big factor. As the company focused on growing the business, it grew its subscribers by 36 percent each year.
Apple Music continues to develop for its users
Research Analyst Abhilash Kumar says Spotify has managed to rank high with promotions and exclusive content, while Apple is quickly lining up with personalized playlists and new app features.
“Spotify has maintained its top spot for three months with promotional events such as free Spotify Premium, price discounts, customized campaigns and exclusive content. Technology giants like Amazon, Apple, Google also started to focus on music streaming. Apple Music, which has rolled up its sleeves to be a tight rival to Spotify, makes improvements in applications and applications such as dark mode and curated playlists. ” made statements.
Counterpoint Research believes that online music subscriptions will exceed 450 million subscribers by more than 25 percent annually by the end of 2020.