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Subscription-based music-streaming increased by 32% in 2019

The paid music-streaming market breakdown for 2019. (Source: Counterpoint Research)
The paid music-streaming market breakdown for 2019. (Source: Counterpoint Research)
According to a new Counterpoint Research report, music-streaming service subscriptions have increased in 2019 compared to 2018. Spotify has retained the top spot in this market year-on-year (YoY), also other popular platforms such as Apple Music have taken decently-sized shares of it as well.
Deirdre O Donnell,
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Counterpoint Research has found that the music-streaming market grew by 32% YoY in the calendar year of 2019 (CY2019). This new report also found that the top 5 brands in this space were Spotify, Apple Music, Amazon Music, Tencent Music and YouTube Music, with 35%, 19%, 15%, 11% and 6% of a share (in terms of subscription counts) respectively.

The market research group attributes these services' success to their ability to convert registerees into paid subscribers. For example, they leverage the incentive to remove ads or other disruptions during playback, which  appears to be very effective. In addition, Apple is credited as mindful of its non-hardware business and how best to build it.

Tactics such as these helped the market to accrue a total of 358 million subscriptions in CY2019. However, Counterpoint also now projects that this number will grow by at least 92 million throughout CY2020. This would represent a growth of about 25% YoY, a change likely to be influenced by the public health crisis related to the Covid-19 pandemic.

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Deirdre O'Donnell
Deirdre O'Donnell - Senior Tech Writer - 4252 articles published on Notebookcheck since 2018
I became a professional writer and editor shortly after graduation. My degrees are in biomedical sciences; however, they led to some experience in the biotech area, which convinced me of its potential to revolutionize our health, environment and lives in general. This developed into an all-consuming interest in more aspects of tech over time: I can never write enough on the latest electronics, gadgets and innovations. My other interests include imaging, astronomy, and streaming all the things. Oh, and coffee.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2020 04 > Subscription-based music-streaming increased by 32% in 2019
Deirdre O Donnell, 2020-04- 5 (Update: 2020-04- 5)