When it comes to music streaming services, it’s no secret that Spotify is still pretty much leading the way. Now according to the latest figures from Counterpoint Research, it seems that Spotify is still pretty much holding onto its position as based on the data, Spotify remained as 2019’s largest music streaming service.The figures show that Spotify commanded 35% of total paid subscriptions when it comes to music streaming. Coming in second place is Apple Music with 19%, indicating that Apple Music still has quite a bit of ways to go before catching up. However, it seems that Apple might not be able to hold onto their position for much longer as Amazon Music is at 15%, suggesting that they could be closing the gap soon.
According to Counterpoint, they suggested that Spotify has the advantage because of various promotions that the company has run in the past, along with customized campaigns to promote its service. “Spotify maintained its top spot with the help of promotional activities like free Spotify Premium for three months, price cuts, customized campaigns like Spotify and a focus on exclusive content.”
However, it has been pointed out in the past that Spotify pretty much relies primarily on its music service to generate revenue, putting them in a precarious position should they ever get overtaken. This is versus Apple, Amazon, and Google, all of whom have multiple streams of revenue to help sustain them.
Filed in . Read more about Amazon, Apple Music, Entertainment, Google, Music and Spotify. Source: counterpointresearch