YouTube Music is now the quickest rising music streaming app within the West

Not ‘In The World’ However It is A Starting

Music streaming apps have change into ubiquitous in our lives, with Spotify and Apple Music at the moment dominating the market. Google has additionally been aggressively pushing YouTube Music for the reason that demise of Play Music (it nonetheless hurts, man), and it appears like these efforts are paying off. YouTube Music is now the quickest rising music-streaming app in Western markets.

A brand new examine by Media Analysis, reported by Rangeexhibits that there was a stable 26.4 % progress in worldwide streaming subscriptions from the second quarter of 2020 to the second quarter of 2021. General, 521.3 million customers are at the moment subscribed to music streaming apps, and 109.5 million of them have joined over the last 12 months.

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And whereas Spotify and Apple Music additionally noticed progress of 20% and 25%, respectively, YouTube Music grew by 50%, making it by far the fastest-growing app within the West. Granted, it nonetheless has a modest 8% of the market share in comparison with Spotify’s 31% and Apple Music’s 15%. It is slowly however absolutely getting there, although, particularly because it was the one app out of the three to considerably enhance its market share throughout that interval.

Observe how I stated, “within the west.” That is as a result of the quickest rising streaming app on the planet Not YouTube Music, however apps for rising jap markets.

Two companies which can be solely out there in China — Tencent Music Leisure and NetEase Cloud Music — account for 18% of the worldwide streaming market and added 35.7 million customers through the 12-month interval studied. And transferring north from China, Yandex is seeing unprecedented progress in Russia, doubling its person base in these 12 months and at the moment holding 2% of the worldwide market.

Spotify in all probability will not lose its #1 spot anytime quickly – but it surely’s good to see how YouTube Music continues to change into increasingly more standard.

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