The pandemic of new Coronavirus (COVID-19) has been quite a shock for the vast majority of economic sectors, but not all: the platforms streaming musical, for example, have seen subscriber counts rise at higher than normal rates in recent months – at least that’s what Counterpoint Research’s most recent survey, referring to the first quarter of 2020, shows.
THE Spotify, of course, remains the market leader: the firm estimates that the platform currently accounts for 33% of subscribers to streaming musical – but the number drops a little when the metric is billing: the Swedes hold 30% of all market revenue.
THE Apple Music, in turn, is consolidated in the vice-leadership of the segment, with 21% of subscriptions and 25% of revenue – which shows that Apple, as in other areas, may not be the market leader, but manages to do better the money you receive from your subscribers.
According to analyst Abhilash Kumar, Apple has managed to boost the adoption of Music by expanding the service to 52 countries in recent months and offering extended test periods for new users. Kumar also cited Apple’s good work in adding new features to the platform, such as the possibility of sharing music on Stories Instagram and Facebook – something that came with iOS 13.5.
Apple should pay attention to the Amazon Music: Jeff Bezos’ service saw a 104% growth year-over-year and grabbed 12% of subscriptions in the segment, above YouTube Music (9%) and the Pandora (9%). In general, the market for streaming grown up 35% compared to the first quarter of 2019.
The trend now is for the numbers to grow even more: with even more people around the world at home in the second quarter of 2020, it is to be expected that the subscriber count for these services has grown. It remains to be seen who will benefit from this new scenario.
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