Music streaming apps have become so important in our lives, with Apple Music and Spotify obviously taking the lead. Google has rapidly pushed YouTube Music since Play Music stopped running, it is quite sad, and it looks like the plans were beginning to play out. YouTube Music has been the fastest-growing music-streaming app currently in the western market.
A recent research that was carried out, has revealed that worldwide streaming subscriptions has increased rapidly by a strong 26.4 percent from Q2 2020 to Q2 2021. In total, 521.3 million users are recently subscribed to the music streaming apps, and 109.5 million of those users started using it during the previous year.
Meanwhile Apple Music and Spotify also viewed the growth of 20% and 25%, simultaneously, YouTube Music has grown by a mind blowing 50%, which has made it one of fastest growing app in the west. Even at that, it also has a fair 8% share out of the very competitive market as compared to Spotify’s 31% and Apple Music’s 15%. It obviously might go there, though, especially since it was one of the apps out of the three trending Apps to highly raise its market portion during the time frame.
Two brands that are only available in China , Tencent Music Entertainment and NetEase Cloud Music which accounts for 18% of the world at large streaming market and which adds up to 35.7 million users for the past 12-month period that was studied. Moving further north from China, Yandex is also experiencing massive growth in Russia, which has doubled its end user reign in the past 12 months and recently accounts for approximately 2% of the global market.
Spotify probably is known as #1 position and will obviously retain it for a long time, but it’s so amazing to see YouTube Music experiencing amazing growth.
YouTube Music, is preffered by so many folks leaving in the wealth.