Apple Music gains on Spotify in subscribers and income, Counterpoint data indicates
New data from Counterpoint this week underscores the continued progress of streaming music because the competitors intensifies between Apple Music and Spotify. According to the data, Apple Music’s subscriber base grew by 36% in 2019, giving Apple a 19% share of the entire paid subscriptions in the business.
Counterpoint notes that Apple Music additionally accounted for a 24% share of complete revenues in the business. These numbers examine to Spotify, which locked in a 35% share of complete paid subscriptions and 31% of complete income. For streaming business as an entire, subscriptions grew 32% year-on-year in accordance with Counterpoint, reaching 358 million subscriptions.
Counterpoint additionally notes that Amazon Music subscriptions reached a 15% share of the business for the primary time, up from 10% in 2018.
For Apple, analysts believed that enhancements to the Apple Music expertise proceed to drive switchers from Spotify, whereas Spotify’s focus on unique content material and prolonged promotional offers helps its progress.
Counterpoint analyst Abhilash Kumar mentioned:
“Spotify maintained its high spot with the assistance of promotional actions like free Spotify Premium for 3 months, value cuts, personalized campaigns like Spotify and a spotlight on unique content material. Tech giants like Amazon, Apple, Google have began focusing on music streaming and have adequate money at their disposal to provide stiff competitors to Spotify.
Apple Music is making enhancements in its app just like the introduction of evening mode, curated playlists to focus on a bunch, and so on. Similarly, Amazon Music has been attempting lossless music and is creating its personal area of interest the place it competes with Tidal.”
Looking ahead, Counterpoint expects on-line music streaming subscriptions to develop greater than 25% year-over-year- in 2020 regardless of the financial uncertainty attributable to COVID-19. This would drive complete subscriptions to over 450 million by the top of this yr, analysts say.
You can learn the complete launch from Counterpoint right here.
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