Spotify holds 31% share of global music streaming market

Streaming giant Spotify holds more than 30 percent share of the global music streaming market in Q2 2021, according to MIDiA report.
global base of music subscribers

Apple Music caters to 15 percent of the nearly 524 million global music listeners.

Spotify’s streaming service share fell to 31 percent in Q2 2021 from 33 percent in 2020. Spotify added more subscribers in the 12 months leading up to Q2 2021 than any other single DSP. But there is no risk of Spotify losing its leading position anytime soon – but the erosion of its share is steady and persistent.

Amazon Music and Tencent Music each take a 13 percent market share, while YouTube Music accounts for 8 percent of global subscriptions.

The report points out that the global base has grown by 109.5 million by the end of the second quarter of 2021, or roughly over 26 percent year-over-year, to 523.9 million.

The biggest subscriber growth came from emerging markets. Between them, Tencent Music Entertainment (TME) and NetEase Cloud Music added 35.7 million subscribers in the 12 months leading up to Q2 2021. Together, they accounted for 18 percent of global market shares, despite being available only in China. Yandex, in Russia, was the other big gainer, doubling its subscriber base to reach 2 percent of global market share.

The surge in non-DSP streaming in 2021 means that the streaming market is no longer dependent on the revenue contribution of maturing Western subscriber markets (nor indeed ARPU-diluting emerging markets).

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