Jan 21, 2022
By: BI India BureauDigital Service Provider market has been slowly declining for the past three years, said IANS' latest report
Credit: Business Insider India
In Q2 2021, Spotify owned 31 percent of the global DSP streaming market down from 33 percent in 2020 and 34 percent in 2019.
Credit: Business Insider India
There is no risk of Spotify losing its leading position anytime soon but the erosion of its share is steady and persistent.
Credit: Business Insider India
it is still the king of global streaming subscriptions. Its global Premium Subscriber base at the end of Q2 2021 was 165 million, up 20 percent y-o-y.
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In terms of growth, Amazon Music was at 25 percent and Spotify at 20 percent but the standout success story among Western DSPs was YouTube Music.
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As per MIDiA, YouTube Music resonates among Gen Z and younger Millennials, which could be a threat for Spotify as their core base of Millennial subscribers is now beginning to age.
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In the third quarter of 2021, music streaming service Spotify reported 381 million active users worldwide. This marked an increase of over 60 million in just one year.
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As per media reports, Spotify global generated Euro 7.85 billion revenue in 2020, a 16 percent increase y-o-y.
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Source: Company data
Credit: Canva
Music streaming service Spotify reported 381 million active users worldwide. This marked an increase of over 60 million in just one year.
Credit: Canva