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Music subscriber market shares 2022 Chinese Dragon

Report by Mark Mulligan
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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 the largest digital service provider (DSP) with        million subscribers in        2022 and        billion subscription trade revenue in calendar year (CY) 2021
  • Spotify added more subscribers than any other DSP between        2021 to        2022        million), but it grew slower than the market, losing market share
  • Apple remained second, with        million, but share was        points down
  • Tencent Music Entertainment (TME) became the third largest DSP in        2021, adding        million subscribers, to reach        million subscribers        market share)
  • Amazon Music (coming fourth, with        million) and YouTube Music (at fifth, with        million) both gained share        2021 to        2022
  • US subscriber growth is slowing, with        million additions in the        months up to        2022, compared to the        million one year earlier
  • Apple Music and Amazon Music are the most dependent on their subscribers in the US, with        and        respectively
  • The UK was the fastest growing mature market, adding more subscribers        million) than it did one year earlier        million), with Amazon Music adding the most
  • Spotify leads German market share        but lost ground to competitors, including Amazon Music, which grew        Germany is Amazon’s fourth largest market
  • Swedish subscriber growth slowed to        between        2021 to        2022, but label trade revenues grew by        in CY 2021, showing how saturated markets can grow
  • Local services dominate South Korea, with MelON accounting for        of South Korea’s        million subscribers, and Genie second with       
  • Brazil added more subscribers        million) between        2021 and        2022 than any previous year, and        million more than it did one year previously
  • Japan is the third largest subscriber market        million), and though additions slowed slightly in 2022, its        growth was significantly above the global rate
  • With        million subscribers, China added more subscribers in one year than all but two countries globally, and will likely pass the 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

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