Apple has spent more than 2 years without announcing the number of subscribers to its streaming music platform. The latest figure we know is 60 million subscribers in July 2019. According to the latest report published by MIDiA, Apple Music’s share stands at 15%, making it the second streaming music platform, behind from Spotify.
A new report from MIDiA Research reveals that the streaming music market grew to 523.9 million subscribers during the second quarter of 2021, which represents an increase of 109.5 million (26.4%) compared to the same quarter of the previous year.
Apple Music accounts for around 15% of that figure while Amazon Music and Tencent Music have 13% each. YouTube Music is far behind, with only 8% of the market, although according to the study, it is growing at an impressive rate.
Google was once the laggard in the space, but the launch of YouTube Music has transformed its fortunes, growing more than 50% in the 12 months to Q2 2021.
Spotify, with a current share of 31%, saw its market share decreased slightly during the second quarter of 2021, from 33% in the second quarter of 202o. However, Spotify added more subscribers during the 12 months prior to this period than any other streaming service.
According to MIDia, there is no risk that Spotify will lose its leadership position on the market, at least in the short term.
However, the company may be concerned that its market share has fallen for the third consecutive year as rival services step up their streaming game.