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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08
Sep

Martha Eve – Artist Focus

An up and coming artist like Martha is a rare gem. A young woman of 22, making waves in the acoustic scene, Martha Eve already has extensive experience in performing at festivals, including 2000 trees and Victorious Festival. Eve was a hit on the Jeeni sponsored People’s Lounge stage this year, part of the World Music Village sector of Victorious. The Arms Around The Child charity is responsible for the Village, their mission is to show love and care to children who have been diagnosed with HIV and aids. Martha’s newest outing ‘Cold’ is soulful and pure, her voice reminiscent of Scottish talent Nina Nesbitt’s earlier work. However she remains distinctly her own artist; with a heartbreaking chorus, ‘You feel cold to me, like an icy breeze, more bitter by the minute, soon you’ll be finished with me’, ‘Cold’ is a much more mature release than previous songs ‘Silly Mind’ and ‘Honeymoon Phase’. Eve states that ‘Cold’ is her most relatable song and that it is her ‘most honest and sad song’ to date. Born in South East London, Martha grew up in the countryside of nearby Kent, and can usually be found playing live shows in and around Brighton, honing her craft and winning over new fans all the time, with her calm yet sultry vocals that are not dissimilar to Jack Johnson. Martha is what’s becoming known as a ‘lockdown artist’, a creative person who has made the most of the recent pandemic by exploring their craft, and coming out the other end with a host of new ideas. In Martha’s case, although she couldn’t perform as she wanted, she wrote songs instead and is now ready to get releasing her wealth of creativity. Martha says she wrote ‘Cold’ about a lockdown romance, and didn’t expect it to become her first single, but at Jeeni, we’re sure our members will love her soulful and breathy vocals on the ballad. Listen to it HERE. Martha is releasing new music all the time, so make sure you keep an eye on Jeeni.com for an upcoming Jeeni exclusive interview with Martha Eve, where she will tell us all about her latest releases and future gigs. Here at Jeeni, we are so excited to welcome undiscovered artists just like Martha. Our platform breaks down the barrier between fan and artist to create a unique relationship and allows easy interaction. How does Jeeni support artists like Martha Eve? JEENI is a multi-channel platform for original entertainment on demand. We’re a direct service between creatives and the global audience. · We give creatives, independent artists and performers a showcase for their talent and services. And they keep 100% of everything they make. · We empower our audience and reward them every step of the way. · We promise to treat our members ethically, fairly, honestly and with respect. · Join us at Jeeni.com

12
Mar

A Christmas No:1 for 2020?

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01
Jul

Zeeteah Massiah - ‘Bad Guy’ Single Review

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