As further druggies have now started counting on streaming services to consume music, the subscribers base in the request grew by further than 26 percent in Q2 2022 as compared to the same quarter last time. Among others, Spotify dominated the request and held onto its numero uno position with a really high request share. Apple’s music streaming service, Apple Music, came in alternate and its request share might come as a surprise to numerous.

Spotify Dominates Music Streaming Market

According to a recent request exploration report by MIDiA, Spotify holds a 31 percent request share in the music streaming assiduity. As for its fiercest contender, Apple Music followed right after and came in the alternate position with only a 15 percent request share. Still, there are some beginning details in the report that you should know about.

Although Spotify was suitable to retain its top position with a 31 percent request share, it’s lower than the company’s request share in Q2 2021 as it had a 33 percent share at the time. This quarter, still, the Swedish streaming mammoth lost 2 percent of the request share in the former time. Also, in terms of growth rate, Spotify was outperformed by Amazon Music as the ultimate saw an amazing 25 percent growth rate as compared to the 20 growth rate of the former.

Nevertheless, Spotify has been on the top for a long time now, and despite its dwindling request share, other companies are nowhere close to surpassing it in the near future, as per the report. The company has introduced several new features to ameliorate its streaming service and help druggies discover new music. It’s anticipated to further ameliorate its platform to garner further druggies in the coming months. Still, there’s one point that seems to be MIA and that’s the Spotify HiFi, which will bring lossless audio support to the platform.

Apple Music, on the other hand, has been gradationally climbing up the list by garnering further druggies. The Cupertino mammoth introduced support for Spatial Audio and Hi-Res Lossless Audio for Apple Music before last time at no redundant cost for subscribers. Lately, the company also introduced a low-cost voice-only plan for its music streaming platform. It relies only on Siri for music playback. With these features and substantiated playlists, Apple aims to bait further druggies to its streaming service.

Other notable music streaming services include YouTube Music, which was the only music streaming platform that saw an increase in its global request share during the quarter. The report states that as Google’s streaming platform substantially resonates with the Gen-Z population and youngish Millenials, the company was suitable to garner further druggies in the global request as compared to its rivals. YouTube Music had an 8 percent request share at the end of Q2 2022.

Piecemeal from these, other music streaming services like Tencent Music Entertainment (13 percent) and NetEase Cloud Music (6 percent) saw the biggest growth rates during 2021, adding35.7 million new subscribers. Combined, the music services garnered 18 percent of the global request share, despite being exclusive to the Chinese request.


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