The global online music streaming landscape will undergo major changes in 2020, driven by the growth recorded in 2019 and fueled by the coronavirus pandemic. If Spotify continues to be the leader in this market, Apple Music, while maintaining a share of 24% in the total revenue of the sector and 19% in the total of paid subscriptions, saw its subscriber base grow 36% in one year.
The research firm Counterpart Research’s report shows that Spotify globally holds 31% of total revenue and 35% of all paid subscriptions. Second place, Apple Music, continues with a 24% share in the sector’s total revenue and a 19% share in the paid subscription base.
According to one of the analysts involved in the research, Abhilash Kumar. “Tech giants like Amazon, Apple and Google have started to focus on streaming music and have enough money to compete stiffly with Spotify. Apple Music, for example, is improving its app with the introduction of night mode, selected playlists, etc. ”
Looking for subscribers in emerging markets
Most new subscriptions to traditional platforms are pouring into emerging markets, especially Brazil, India and Russia.
Running on the outside, regional platforms use local content to lead their markets. Gaana is still the number one player in India; Yandex Music, in Russia; Anghami, in the Arab world; and Tencent Music Group, in the Chinese market, with the help of its QQ Music, Kugou and Kuwo applications.
The Counterpoint Research analyst believes that the sector will well absorb the impact of the COVID-19 pandemic. “Because of the quarantine, the attraction for news channels and podcasts has increased, while music streaming has dropped. People are actively looking for exclusive news, updates and content. “