Apple Music is the second most popular music streaming service in the world, but it still has a long way to go to try and catch up with Spotify.
According to a new report from Midia Research, Apple Music took a 15% market share in the second quarter of 2021. Although this puts the streaming service in second place, it is still far behind Spotify which still holds market share. 31% worldwide.
Spotify remains the DSP with the highest market share (31%), but this was down from 33% in the second quarter of 2020 and 34% in the second quarter of 2019. Apple Music trailed far behind with 15% of market share, and Spotify adding more subscribers in the 12 months to Q2 2021 than any other single DSP, there’s no risk that Spotify will lose its leadership position anytime soon – but the erosion of its part is regular and persistent.
When the report looked at the remaining competitors, it found that YouTube Music had actually gained a large following among Gen Z and millennials.
Amazon Music once again outperformed Spotify in terms of growth (25% vs. 20%), but the most notable achievement among Western DSPs was YouTube Music, for the second year in a row. Google was once the latecomer in the space, but the launch of YouTube Music transformed its fortunes, growing more than 50% in the 12 months to Q2 2021. YouTube Music was the only western DSP to increase its share global market during this period. the period. YouTube Music is particularly resonating with Gen Z and younger millennials, which should ring alarm bells for Spotify as their 2010s millennial subscriber base in the West is now starting to age.
Apple’s music streaming service has taken steps to differentiate itself from other music streaming services. Last year, the company released Spatial Audio support with Dolby Atmos and Lossless Audio at no additional cost to subscribers.
Apple Music is available for $9.99 per month or $4.99 per month for students. It’s also available as part of every tier of the company’s Apple One subscription service.