Music streaming worldwide - statistics & facts

Spotify sets the tone

Consumers can choose from an ever-expanding catalog of free and paid music streaming services. While various smaller providers have amassed impressive user bases in their respective markets over the years, the global streaming landscape continues to be dominated by a handful of behemoths. Data showed that Spotify remains the most popular music streaming provider worldwide, accounting for over 30 percent of all streaming subscribers and outperforming its closest competitors, Apple Music, Amazon Music, and Tencent Music. According to the company’s latest filings, the number of Spotify premium subscribers reached a record 182 million users in early 2022, while revenues from its paid and ad-supported streaming models also peaked at nearly 9.67 billion euros. One European competitor that still has a long way to go to match these milestones but nevertheless made international news headlines in recent months is Deezer. After a failed IPO in 2015, the French streaming service announced its second attempt at going public by merging with special purpose acquisition company I2PO in early 2022.

Has music streaming reached its saturation point?

Streaming will undoubtedly remain the key driver of growth for the global music industry. Over the next few years, both new and established audio streaming services are expected to add millions of subscribers but considering that markets such as the United States have already reached a certain level of subscriber maturity, there will likely be some shifts in regional focus. This trend is already visible today, as most major players are vividly expanding operations in previously untapped regions with potential for subscriber and revenue growth. And even though the overall growth in music streaming revenue has slowed since the mid-2010s, the figure is still climbing at a double-digit rate each year. Music fans are streaming more music and other digital audio content than ever and judging by the most recent developments in other parts of the media and entertainment landscape, the streaming wave is unlikely to recede any time soon.

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