Global Online Music Streaming Grew 32% to over 350 Million Subscriptions in 2019

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Global Online Music Streaming Grew 32% to over 350 Million Subscriptions in 2019

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By Abhilash Kumar

Spotify continues to be the market leader and recorded a 23% YoY growth in total revenue during CY 2019.
Music streamers are focusing on creating exclusive content with podcasts continuing to feature strongly in 2020.

Seoul, Hong Kong, New Delhi, Beijing, London, Buenos Aires, San Diego – 3rd April 2020

Global online music streaming subscriptions grew 32% year-on-year (YoY) reaching 358 million subscriptions in CY 2019, according to the latest findings from Counterpoint Research. This is driven by the availability of exclusive content like podcasts, originals which attracted people towards the platform and eventually turned them as subscribers. Also, promotional activities like price cuts in subscriptions in emerging markets, bundled offers from telcos added to the growth. We expect that online music streaming subscriptions to grow more than 25% YoY to exceed 450 million subscriptions by the end of 2020.

Commenting on the overall market, Research Analyst, Abhilash Kumar, said, “Paid subscriptions grew 32% YoY compared to 23% YoY growth of total MAUs. This suggests people are ready to pay for music streaming for a hassle-free experience. However, this is not completely user-driven. Music streaming platforms are following a two-step approach to gain subscribers, first registering them to their platform as free users by means of excellent advertising campaigns and secondly pitching them with attractive offers to transfer them to become paying subscribers.”

Spotify topped CY 2019 grabbing a 31% share of the total revenue and a 35% share of the total paid subscriptions. The runner up, Apple Music, follows with a 24% share of total revenues in the industry and a 19% share of the total paid subscriptions. Due to Apple’s high focus on its services segment which includes Apple Music, its subscription base grew 36% YoY in CY 2019. Amazon Music subscriptions reached a 15% share in 2019 compared to 10% in 2018.

Talking about the top performers, Kumar added, “Spotify maintained its top spot with the help of promotional activities like free Spotify Premium for three months, price cuts, customized campaigns like Spotify and a focus on exclusive content. Tech giants like Amazon, Apple, Google have started focusing on music streaming and have sufficient cash at their disposal to give stiff competition to Spotify. Apple Music is making improvements in its app like the introduction of night mode, curated playlists to target a group, etc. Similarly, Amazon Music has been trying lossless music and is creating its own niche where it competes with Tidal.”

Despite global players strongly pushing their music streaming platforms, regional players stand strong in their respective regions, primarily because of regional exposure and high focus on local content. Gaana continues to be the no.1 player in the Indian market, Yandex Music is leading in Russia. Similarly, Anghami leads the Arab world. Tencent Music Group leads the China market with the help of its apps QQ Music, Kugou and Kuwo.

Discussing the impact of the COVID-19 pandemic on the OTT industry, Kumar added, “We expect the OTT sector will experience an uptick as people stay at home actively tracking the latest updates. During this outbreak, audio OTT consumption has switched from music streaming to the radio. People in highly affected areas are worried about the outbreak and are therefore continuously tuned to news on TV/radio for updates. The traction of news channels and podcasts saw an upswing while that for music streaming dropped.”

What’s common is that both the regional and global players are focusing a lot on building exclusive content. Acquiring podcast companies and creating their own channels are all being undertaken. It’s often exclusive content that drives paid subscription growth.

More than 80% of music streaming revenue came from paid subscriptions. The rest came from advertisements and partnerships with brands and telcos. Therefore, increasing paid subscriptions is of prime importance for music streaming platforms.

The comprehensive and in-depth chain of reports on Global Online Music Streaming Market for Q4 2019 is available to help track the market in terms of MAUs by region, paid subscriptions by region, revenues, and ARPU. To view the global report in terms of users, revenues and ARPU, click here. For regional analysis on MAUs and paid subscriptions, click here. Please contact press(at)counterpointresearch.com for further questions regarding our in-depth research, insights or other press inquiries.

Background:

Counterpoint Technology Market Research is a global research firm specializing in Technology products in the TMT industry. It services major technology firms and financial firms with a mix of monthly reports, customized projects and detailed analysis of the mobile and technology markets. Its key analysts are experts in the industry with an average tenure of 13 years in the high-tech industry.

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17
Dec

Weekly Round-Up # 6

The latest news on all things Jeeni, music and entertainment. BRITs Rising Star Award, 2022 Announced: Last time on Weekly Round-Up, we spoke about the three female stars nominated for the ‘2022 Rising Star’. Lola Young, Bree Runway and Holly Humberstone were all up for the chance to earn the prestigious honour. Last Thursday, much to her disbelief, 2019 ‘BRIT Rising Star’ winner, Sam Fender personally handed Holly Humberstone her well-deserved trophy during a recording session together. Humberstone couldn’t quite believe her achievement at first and had to be reassured several times by Fender, “That is yours, that is definitely yours, you’ve won it!” he clarified. Holly was still looking around to the surrounding BRITs crew, caught off-guard, “There’s loads of cameras on me, how am I supposed to react?” she laughed. “It just doesn’t feel real. 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December tends to be a good time to release such lists as this is when releases tend to dry up, slow down and recharge for the new year. In the world of hip-hop, Grisleda’s Mach-Hommy appeared on lists like CRACK, Esquire, Pitchfork, Paste and Fader for his gritty, truth-telling record, ‘Pray For Haiti’. Tyler, The Creator featured on much of the same lists for his 'IGOR' follow-up ‘Call Me If You Get Lost’ as well as hitting number 4 on Rolling Stone’s list. Madlib’s Four Tet-arranged record, ‘Sound Ancestors’ also made a splash on the lists considering its nature as a hip-hop instrumental album. Perhaps unfairly but not surprisingly, Kanye’s ‘Donda’ was certainly a rare occurrence on the lists. ‘Promises’, the mesmerising collaboration with Floating Points and John Coltrane partner, Pharoah Sanders justifyably made a lasting impression with the majority of publications for its ground-breaking achievements in structuring, genre-blurring and pure emotion provoking. 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Jeeni News: New Artists Join Jeeni’s Mission: This week, we introduced three new, exciting artists; Lennox Campbell (aka Biggz Manifest), Giack Bazz and Khole Baldeo. We can’t wait to see what they do next and what we can do for their blossoming careers! New blogs on Jeeni’s newest artists: Earlier this week, we featured four new Jeeni artists as a part of our Artist Focus blog series; the South-coast soulstress, Amba Tremain, pop-funk trio, Barbudo, indie experimentalist, Giack Bazz and Portsmouth rapper, Baby Panna. We also released reviews of Amba Tremain’s ‘Baby You’re Gold’ single, Giack Bazz’s ‘Childhood Dream’ album and DarkStarGraver’s ‘Gohan’ single. Check out the showcases of these excellent artists: DarkStarGraver: https://jeeni.com/showcase/darkstargraver Giack Bazz: https://jeeni.com/showcase/giack-bazz Lennox Campbell: https://jeeni.com/?s=lennox+campbell Amba Tremain: https://jeeni.com/showcase/amba-tremain Barbudo: https://jeeni.com/showcase/barbudo Baby Panna: https://jeeni.com/showcase/baby-panna Khole Baldeo: https://jeeni.com/?s=khole+baldeo

08
Jul

Zed, The Dreamer – ‘I died too’ Single Review

Charming, layered and dreamy, the latest single from this starry-eyed balladeer might be his most impactful yet. With a rich roster of influential artists like Bon Iver, Michael Kiwanuka and Matt Corby, Zed, The Dreamer has a wide and varied well from which he draws inspiration and these influences reveal themselves quite clearly across Zed's young, bright discography. The style of the previously mentioned muses can essentially be reduced to an initial representation of the broad genre of folk music, however, they all individually decide to expand beyond that folk core by enriching it with their own individual styles, experiences and personalities. This is a skill that Zed has adopted in full-effect. A notable element of Zed’s style is his subtle embrace of lo-fi aesthetics. Before, this has materalised as some unfiltered-out background fuzz in tracks like ‘Comfort (Not Love)’, but Zed's latest track takes this raw, casual sentiment to a further level as he uses it to almost reinforce the heart aching messages that he displays in ‘i died too’. The track whirs to life like a tape machine accelerating to the right speed, instantly giving off a warm, analogue tone to the track. The sudden click to silence after just a second of guitar also contributes to a feeling that this is an impromptu recording, straight from the heart, to the microphone. As more elements are introduced, this nonchalant façade crumbles and Zed’s ballad blossoms into a polished and astonishing chorus of love. Intricate and symbolic lyrics aren't needed for the confessional “Baby, I love you” chorus, because the verse has already provided poetic details into the relationship. Interestingly, after the first chorus, Zed doesn’t use its natural momentum to maintain the energy, but instead, he brings the composition back down to where we began with an interlude of radio-effect conversational samples and background ambience that replaces the full, lush textures that we just heard over the chorus. Once back down to the ground, Zed’s forlorn vocals begin to slowly levitate the piece once more with the next verse. The second verse consists of simple guitar-tapped percussion, rumbling bass and shimmering chords, all ornamenting Zed’s gentle acoustic guitar and crooning vocals which creates the folk centre of the piece. The second verse much more seamlessly feeds into the second chorus which now professes the title of the piece, “I died too” in replace of “I love you”. This heartbreaking variation to the chorus is such a clever story-telling device. It’s not often that a chorus is altered to reveal an entirely different side to an emotive narrative, it adds a stunning amount of weight behind an already compelling single. The piece winds down one final time as a more distant and mournful "Baby, I love you" is heard underneath auto-tuned vocalisations and a self-comforting "It's alright, now" repetition. This extended ending at almost a minute long is a beautiful finish to an already unorthodox song structure. A final, pensive guitar chord rings out to finish the piece with one last poignant resignation. Zed, The Dreamer will be performing at Victorious festival this August (26th-28th) so be sure to check him out if you have tickets!

17
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Invest in JEENI

Grab your share of JEENI - the ethical streaming entertainment platform. Our new funding round is about to go live on Crowdcube. We've been approved by market-leaders Crowdcube and Seed Legals for our funding vision and due diligence, and our company value has nowgrown from £2.4million to £5million. Thanks to advance pledges from our wonderful Jeeni investors and followers, we've already reached £80,000 of our £150,000 target in less than 3 days. Now we want to reach 70% of our target before we go live, which means we’re likely to overfund with Crowdcube in record-breaking time, just like we have done in our previous rounds. The value of Jeeni lies in our IP and user databases, and here’s where these stand at the start of the 2023.• 4million total audience access across all media.• 200,000 Jeeni artist online followers.• 57,000 Jeeni partner online followers.• 20,000 Jeeni business online followers.• 5,000 registered independent musicians and performers.• 4,000 registered social media champions.• 2,500 artist showcases.• 500 award nominees.We have money in the bank, no loans, no debt, no creditors, no factor-invoicing, and a zero burn-rate. We will use your investment to expand our databases and boost our value for exit by acquisition. We invite you to join in now, before we go live on Crowdcube, so simply email shena@jeeni.com with the amount you’d like to pledge, and she’ll add you to our priority list. We look forward to hearing from you and welcoming you on board!

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