Streaming Music Subscriptions Grew 26% in 2021, With YouTube Music as Fastest Growing DSP in the West
variety.comChris Willman Music WriterA study released by Midia Research shows that worldwide streaming subscriptions grew by a healthy 26.4% in the second quarter of 2021, standing at 521.3 million subscribers at the end of that period, an increase of 109.5 million from the year before.
But that growth didn’t necessarily come via the usual DSP suspects.Spotify continued to have by far the highest market share among streaming services, with its 31% slice of the pie being more than double the 15% claimed by the nearest runner-up, Apple Music.
With Spotify adding more subscribers than any other service in the 12 months leading up to the middle of 2021, “there is no risk of Spotify losing its leading position anytime soon,” wrote Midia’s Mark Mulligan.
But, he cautioned, “the erosion of its share is steady and persistent,” since Spotify had a 33% share at the same time a year before and 34% in 2019.
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