Music subscriber market shares 2022 Chinese Dragon
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The 20,000 foot view: As the world edges towards a recession, the music streaming market continues to stand strong. Despite indications of slowdown in some markets, the global music subscriber market remains buoyant. Growth, though, is uneven, with a number of leading streaming services outpacing the rest, especially the Chinese ones, which are now setting the global pace.
Key insights:
- Spotify was largest digital service provider (DSP) million subscribers in 2022 and subscription trade revenue in calendar (CY) 2021
- Spotify added subscribers than any other DSP 2021 to 2022 million), but grew slower than the market, market share
- Apple remained with million, but share was down
- Tencent Music (TME) became the third largest in 2021, adding million subscribers, reach million subscribers market share)
- Amazon Music fourth, with million) and YouTube (at fifth, with million) both share 2021 to 2022
- US subscriber is slowing, with million additions the months up to 2022, to the million one year
- Apple Music Amazon Music are the most on their subscribers in the with and respectively
- The UK the fastest growing mature market, more subscribers million) than it one year earlier million), with Music adding the most
- Spotify leads market share but lost ground competitors, including Amazon Music, which Germany is Amazon’s fourth largest
- Swedish subscriber slowed to between 2021 to but label trade revenues grew in CY 2021, showing how markets can grow
- Local services South Korea, with MelON accounting of South Korea’s million subscribers, Genie second with
- Brazil added subscribers million) between 2021 and than any previous year, and more than it did one previously
- Japan is third largest subscriber market million), though additions slowed slightly in its growth was significantly above global rate
- With million China added more subscribers in year than all but two globally, and will likely pass US by end 2023
Companies and brand mentioned in this report: Amazon Music, Anghami, Apple Music, AWA, Deezer, Gaana, Genie Music, Hungama, Jio Saavn, Line Music, Melon, Netease Cloud Music, Pandora, SoundCloud, Spotify, Tencent Music, Tidal, Vkontakte, Wynk, YouTube Music, Xiami, Yandex