Apple can't catch up with the leader yet

Spotify is still the first music streaming service on the market.

According to analysts of Counterpoint Research, following the results of last year the number of paid subscribers of various music streaming services has grown on 32 %, having reached 358 million.

Analysts believe that the impressive growth was facilitated by the emergence of exclusive content, as well as various promotions and price reductions. It is expected that at the end of this year the number of subscribers will grow by another 25%, to 450 million people.

Spotify remains the leader of the streaming music services market. This platform received 31% of total industry revenue and 35% of revenue from paid subscriptions. Apple Music posted 24 percent and 19 percent, respectively, and closes the top three Amazons with a 15 percent share of total revenue from paid subscriptions. The list of leaders also includes Tencent Music and YouTube Music.

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