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

DO YOU WANT TO DANCE?

By Sammy Venn, Jeeni's Official Writer Columnist and Blogger. Click HERE to visit or return to jeeni.com Come and join in... Plato said that music and rhythm find a way into your soul; that’s so true! I love music and have an eclectic taste that I think most can’t comprehend. The plethora of suggestions I get is wonderful, so it works for me, as my knowledge of music becomes far more expansive that way. I discovered Fip radio about a couple of months ago. It’s a French radio station; genius in that I can listen to a myriad of tunes and not turn it off or down because of adverts or news that makes me feel sad - it’s all in French! So not only am I picking up a language I adore, my collection of music is expanding. Music really feeds my soul, I thought it might be a fun idea to create a “Musicians and Performers Group" playlist I can create on Jenni for us all to listen too. So please, please add your favourite songs below so we can all share in the delight that music brings to our mind, body and spirit...Many people don’t know this but listening to music is not just something that brings joy, it can also improve your health in a variety of ways and scientists have proven that through many researches. Read on to find how music can make your life more awesome. By Eevee G 1. Helps you sleep better Music contributes for a healthy sleep. Researchers have found that classical music can help us deal with Insomnia, especially college students. This is definitely a healthier and much cheaper fix for your sleeping disorder than taking pills. 2. Fights stress It is no surprise that listening to music helps relieve stress off your shoulders. Studies have found that music stimulates biochemical stress reducers which helps us feel more relaxed. 3. 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If you are like me and prefer running, listening to your favorite songs can help you beat your personal records and even strengthen your endurance. Long story short, music helps you perform better during your workouts and also makes them a lot more enjoyable. 7. Helps you recover faster after a workout. It’s proven that your body recovers faster after a hard workout when you are listening to your favorite music 8. Fights sadness Researchers have found that music can successfully fight symptoms of depression but the genre is very important. Classical and meditation music can boost your mood when you are feeling down, but listening to heavy metal or techno music won’t help that much with chasing away the bad thoughts. 9. Helps the function of the blood vessels Science has proven that the emotions that people have while listening to music contribute to healthier functions of blood vessels. As music makes you feel happier, it boosts the blood flow in your blood vessels. 10. 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A research has found that music can boost one’s cognitive abilities, but only if it has the same effect on the emotional state. 14. Music can get you into a state similar to meditation Slow music can have effect on the speed of your brainwaves which makes them similar to someone who is in a meditative or hypnotic state. This can have a healing effect as it eases the symptoms of PMS and behavioral issues. 15. Eases patients going through a surgery A research discovered that when patients are played music just before a cardiovascular surgery, they start feeling less worried. Moreover, music reduces the stress after the surgery if it is played while the patients are resting in their beds. It doesn’t matter what the music of your choice is. Click HERE to visit or return to jeeni.com

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