Music streaming services offer the best space of convenience and discovery, allowing you to listen to your favourite artists quickly and easily anywhere in the world. The majority of these services also offer music catalogs with close to 100 million tracks, and you may stream from a variety of gadgets, including your mobile phone, laptop, iPad, etc.
However, a research company headphones addict reports the fast growth of music streaming services with more than 616 million users worldwide. It also further highlights that Apple Music and Spotify are the two biggest brands in music streaming, followed by Amazon Music, and YouTube Music as well as Tidal, Qobuz, Deezer, and Pandora Premium being their smaller contenders. The preference for the subscription economy among Gen Z and Millennials is one factor driving the expansion of music streaming platforms.
According to a recent survey, Spotify is recognized as a pioneer in the music streaming business with more than 517 million users and 229 million premium subscribers globally in 2023, a 6.5% increase from the previous year when there were only 422 million users worldwide. Europe makes up 30% of Spotify’s monthly listeners, while North America (the US plus Canada) comes in second with 21% of the market. Ad-supported Spotify is used by 295 million people. Worldwide, 44% of female users and 56% of male users of Spotify are between the ages of 18 and 34.
It is also without a doubt the finest for listening to podcasts, music with videos, audiobooks, and other incredible supplementary features. Additionally, it provides a fantastic selection of playlists with more than 100 million songs for every occasion, activity, and mood being uploaded to Spotify on average making “The Weeknd” the artist with the most monthly listened-to song with 98.67 million audiences. Also due to its free, ad-supported tier, Spotify is the most adaptable choice if you want to stream music without having to pay.
Apple Music is also one of the music streaming services with the quickest growth having an estimated 108 million users globally according to a recent survey by bankmycell.com. The current global revenue for Apple Music is $7.7 billion, a 22% increase from the prior year. On the other hand, Apple Music comes in second with almost one-third of all music streaming listeners globally, followed by Spotify. Additionally, Apple Music pays a total of $0.0076 for each stream.
The global streaming market share of Apple Music is also very significant. You can listen to any music you have purchased from iTunes over the years, in addition to the more than 100 million songs in the iTunes catalog. The app’s recommendation system selects the ideal songs for you using both algorithms and humans. With a few new voice commands, Siri also aids in finding both contemporary and classic music.
Apple Music has experienced rapid development, and as a result, the age group that utilizes the service most frequently is currently 18-55+, with percentages of 17% from 18-24, 23% from 25-34, 22% from 35-44, 15% from 45-54, and 23% from 55+, respectively. As well as 44% of the male gender users and 56% of female gender users. It is also without doubt that apple music is one of the most comfortable streaming services to use which is available in 167 countries.
Finally, it is undeniable that Apple Music and Spotify have completely conquered the world with their incredibly useful streaming services. Additionally, your choice will depend in part on how well you listen. Whether you prefer listening through speakers or headphones, using the app to listen to the song directly, or downloading it to your device. All of these are a component of discovering new music, and streaming quality might be crucial.
