. This figure is up 109.5 million from the previous year. Surprisingly, this increase is not due to online listening giants like Sweden’s Spotify but to... YouTube Music.
For a long time, artists and record labels have looked down on Google’s video hosting service. While it brought them millions of views, they often complained that they weren’t capitalizing enough on that popular buzz. Things have changed quite a bit since that time though, andAnd it seems that a growing number of music lovers are embracing it.
Spotify will have to work twice as hard if it does not want to be surpassed, in the near future, by its competitors. Leading the way are emerging players like China’s Tencent Music and NetEase Cloud Music. They represent 18 per cent of the market share, although they are only available in China, and had 35.7 million subscribers during the period analyzed by Midia Research.
Meanwhile Russia hasn’t been left out of the equation with Yandex Music. This streaming service has seen its number of subscribers double in the last year, giving it 2 per cent of the global streaming market share. Proof that this sector is becoming an increasingly diversified market. — ETX Studio