Spotify Remains to be the Top Music Streaming Platform According to Counterpoint

Still the top choice for music streaming

Counterpoint has released its 2019 report for music streaming, and things are looking good: Year-to-Year growth on paid subscriptions has grown by 32%. Counterpoint credits this to music streaming platforms offering exclusive content in the form of podcasts, along with promotional price cuts in emerging markets. With this trend, Counterpoint predicts a 25% growth on paid subscriptions by end of 2020.

As for preferred music streaming platform, Spotify remains to be on top with 35% paid subscription market share, followed by Apple Music and Amazon Music garnering 19% and 15% market share respectively. Research analyst Abhilash Kumar credits Spotify’s dominance with its promotional price cuts (ie. free Spotify Premium for 3 months), along with exclusive content. Apple Music and Amazon Music are catching up through different approaches: Apple Music is focused on improving the app’s overall user experience while Amazon Music prioritizes the availability of lossless, ultra-high quality music to compete against Tidal.

With the effects caused by the COVID-19 pandemic, Kumar expects regional streaming platforms to experience an increase in users as more people stay at home in efforts to flatten the curve.

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