With a 15% share of the market, Apple Music is now the second-biggest music streaming service in the world, according to the latest data. It remains significantly bigger than rivals like YouTube Music and Deezer.
However, Apple Music will have to fight to stay ahead of Amazon Music, while catching up with Spotify will be an incredibly difficult task.
Apple Music second in market share
A new report from MIDiA Research reveals that the music streaming market grew to 523.9 million subscribers during the second quarter of 2021 — up 109.5 million (26.4%) from the same quarter a year earlier.
Apple Music accounts for around 15% of that figure, the report says, while Amazon Music and Tencent Music each hold 13%. YouTube Music is far behind with only 6% of the market, but MIDiA says it is growing at an impressive rate.
“Google was once the laggard of the space, but the launch of YouTube Music has transformed its fortunes, growing by more than 50% in the 12 months leading up to Q2 2021,” the report reads.
While it’s possible we could see some movement between the second, third, and fourth spots, then, it will take something spectacular to knock Spotify off the top spot. The Swedish firm now holds a whopping 31% of the market.
Spotify still way ahead
Spotify actually saw its market share decrease slightly during Q2 2022 from 33% in Q2 2021. However, Spotify added more subscribers during the 12 months leading up to this period than any other streaming service.
“There is no risk of Spotify losing its leading position anytime soon,” MIDiA said. But the company may be concerned that its market share has fallen for the third consecutive years as rival services step up their streaming game.