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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06
Jun

Love in the Time of COVID-19: Working Apart but Creating Together.

By Sammie Venn Jeeni's Official Writer, Columnist and Blogger. Here at Jeeni.com we celebrate and support all musicians and performers, and poetry has its own dedicated channel for artists and performers to showcase their work and earn 100% of their sales, ticketing, merchandise and donations. Today, Jeeni has returned to Crowdcube to raise more funds for helping new talent. If you want to see our pitch click HERE. Today we showcase Sammie Venn as a very talented and creative writer. “No one can whistle a symphony. It takes a whole orchestra to play it” – H.E Luccock Sammie says, "Creativity brings people together. Artists, poets, writers and musicians have been forced apart, to distance, to isolate due to the COVID-19 pandemic. Yet collaboration has flourished. Adversity has brought us together to create in new and innovative ways. I have learnt over the years that it is not possible to be great at everything. Different skills that blend and morph with each other are key to an effective alliance. That’s where the magic happens. I have forged a new partnership with a UK-based award winning sound designer to launch a series of poetry short films – I call them “Poetry Porn” – on YouTube as a prelude to publishing an anthology of work in the autumn. Joe Churchman and I have worked on various projects together over the years. She wrote and co-directed the multi-award winning short film “Gloop” and collaborated with Sir David Attenborough. Joe has worked with MC Saatchi and the BBC, her talents and eye for creativity know no bounds . Where once we joined forces over the kitchen table, enjoying a glass of wine, we have been forced by the pandemic to find new ways of working together, including our latest venture. We both have a thirst for learning and a need to enthusiastically share and impart the wisdom we have gained. Creating during COVID-19 has been an exhilarating and challenging experience for us both, but one we have overcome and enjoyed with fervour and passion. Never before have Zoom, WhatsApp and the desire to teleport been at the forefront of our combined creativity. Despite the 50 plus miles between our respective homes the soul sister bond that we have nurtured over the years has never been lost. The verve for all things lyrical has surfaced again whilst working on the Poetry films. Having created a series of 100 poems, I am now in the editorial process: altering verses, changing words and making sure rhythm, beat and iambic pentameter all synchronise. The work embodies the emotive journey of womanhood: traversing sorrow, despair, anger and liberation. The natural environment heals all woes and this journey is told through the changes in season. Death, loss, renewal and growth are all subjects covered within the poems and the films. Winter teaches us how to be patient, to rest, hibernate and prepare for growth. Autumn helps us to embrace the process of letting go. Spring is a period of regrowth and birth. Whilst Summer is our time to blossom and burst into the most vibrant versions of ourselves. In the depths of winter combined with a broken heart, “Kiss the Tinder” was born. Poetry was and still is my solace, it helped me to rediscover compassion, serenity and hope. I was lucky enough to meet a fellow poet and songwriter via the writing community on Instagram a couple of years ago, Renée is from Texas, so we have only ever virtually met but he kindly agreed to record this poem. A true gift. I woke one morning to his dulcet tones in my inbox, and with a voice of liquid silk, he is the soundscape to this film. This Poetry Short is therefore a true collaboration. Global restraints from continental distance to COVID-19 have not curbed our resourcefulness. The project has only just begun. This poem was published in June in American Journal “The Starlight Emporium” along with a collection of my other work. “Kiss the Tinder” by Sammie Venn Kiss the tinder, fall in love with the ashesThe storm destroys the pain with lashesIndigo shards, incandescent stainsLife blood flowing, ripped like veins.Lightening shreds the Arial skyIt punches, spits and angrily criesGlorifying the night with celestial screamsMother Nature voices her savage dreams.Dancing with Hope, thunder follows alongside,For now, there is nowhere in the world to hide.Like a love-lorn couple, they rampantly combustTears of anguish wash away rage and lust. Click HERE to visit or return to jeeni.com

10
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Facing the Broken Music Industry.

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14
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