Global Online Music Streaming Growth Slowed Down in Q2 2020
Global online music streaming revenues declined 2% QoQ but grew 13% YoY in Q2 2020 at $6.7 billion, according to the latest Counterpoint Research findings. This is the first-ever QoQ decline in terms of revenues as music streaming has been gaining strength with every passing quarter. Paid subscriptions grew 29% YoY compared to 35% YoY in the Q1.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201007005474/en/
Global Music Streaming Paid Subscriptions by Brand Share (in %) - Q2 2020 (Photo: Business Wire)
Research Analyst Abhilash Kumar said, “The growth slowed down in Q2 and, for the first time, the revenues declined sequentially. There are a couple of reasons for the same. The music streaming platforms offered discounts and lowered prices for paid subscriptions to retain consumers or to prevent them shifting to a free plan. Also, advertisement revenues saw a dip since many companies cut expenditure in view of COVID-19. However, podcasts related to different genres were able to keep people glued, offsetting some of the decline.”
In terms of monthly active users (MAUs), Tencent Music (with its subsidiaries QQ Music, Kuwo and Kugou) led the chart in Q2 2020 with 26% share, followed by Spotify and YouTube Music with 12% and 10% shares, respectively. However, in terms of paid subscriptions, Spotify continued to lead with 34% share, followed by Apple Music (21%) and Amazon Music (15%).
Kumar added, “The social media platform and free availability of music help Tencent Music maintain the No. 1 spot in terms of MAUs. For similar reasons, YouTube Music is also among the top three. Strong brand presence, attractive offerings, continuous product improvisation and focus on podcasts have helped Spotify. Apple Music’s free six-month subscription offering in 52 countries helped maintain its share.”
The music streaming industry was almost immune to the ill-effects of COVID-19 in Q1. In fact, the streaming hours increased as people stayed at home. Starting Q2, the market witnessed a slowdown in growth, driven by sequential decline in both paid and ad-based revenues. Starting June-end, the growth is slowly coming back on track. We believe the growth will be back to pre-COVID-19 levels by Q4 2020.
Our in-depth ‘Global Online Music Streaming Market Tracker, Q2 2020’ can be downloaded here.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201007005474/en/
Contact information
Abhilash Kumar
abhilash@counterpointresearch.com
Hanish Bhatia
hanish@counterpointresearch.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Zycus Named a LEADER in 2025 IDC MarketScape for Source-to-Pay7.7.2025 16:41:00 EEST | Press release
Zycus, a global leader in AI-powered procurement technology, has been named a Leader in the IDC MarketScape: Worldwide AI-Enabled Source-to-Pay 2025 Vendor Assessment. This recognition follows a comprehensive evaluation, including RFI submissions, live product demos, analyst briefings, and customer interviews. “Zycus is a recognized Leader in the Source-to-Pay space leveraging Agentic AI to drive procurement transformation. With AI agents like Merlin Intake and the Autonomous Negotiation Agent (ANA), Zycus offers a seamlessly integrated solution suite for enterprises focused on cost savings, risk mitigation, and scalability,” — Patrick Reymann, Research Director, IDC “We believe this recognition underscores our commitment to empowering procurement teams through Merlin Agentic Platform, deep domain expertise, and customer-first innovation,” said Aatish Dedhia, Founder & CEO, Zycus. “With a global product footprint spanning every aspect of the S2P lifecycle, Zycus is proud to support ent
Kevin Egan Joins ClickHouse as Chief Revenue Officer to Accelerate Growth7.7.2025 16:00:00 EEST | Press release
ClickHouse, a leader in real-time analytics, data warehousing, observability, and AI/ML, today announced the appointment of Kevin Egan as Chief Revenue Officer (CRO). With over two decades of experience building and leading enterprise sales organizations at Atlassian, Slack, Dropbox, and Salesforce, Egan will oversee ClickHouse’s global go-to-market functions as demand continues to grow. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250707959780/en/ Aaron Katz, ClickHouse CEO with Kevin Egan, ClickHouse CRO “I’m incredibly excited to join ClickHouse at such a pivotal time,” said Egan. “As organizations navigate how to compete and thrive in the AI era, ClickHouse is emerging as the de facto database powering the real-time, scalable analytics that AI-driven applications demand. I look forward to building strong relationships not only with forward-thinking customers, but also with our channel and technology partners—working to
Accellix Appoints Dr. Félix A. Montero-Julian as Vice President of Scientific Affairs7.7.2025 15:00:00 EEST | Press release
Accellix, a global leader in rapid point of need cytometry solutions, is pleased to announce the appointment of Félix A. Montero-Julian, PhD as Vice President of Scientific Affairs. Dr. Montero-Julian brings more than 30 years of international experience in scientific affairs, analytical development, and regulatory science to support Accellix’s strategic vision and innovation roadmap. Dr. Montero-Julian joins Accellix from bioMérieux, where he most recently served as Scientific Senior Director of Pharma Quality Control. His previous roles include Cytometry R&D Director at bioMérieux and Director of the Cellular Analysis Department at Beckman Coulter, underscoring a distinguished track record spanning biopharmaceuticals, industrial microbiology, and clinical diagnostics. “I’m excited to join Accellix during this period of dynamic growth and innovation,” said Dr. Montero-Julian. “I have great confidence in the potential of the Accellix Platform to transform quality control in cell and ge
NTT DATA Appoints Anne-Sophie Lotgering as Europe CEO7.7.2025 14:00:00 EEST | Press release
NTT DATA, a global leader in digital business and technology services, today announced the appointment of Anne-Sophie Lotgering as the new Chief Executive Officer for Europe at NTT DATA, Inc., effective 1 September 2025. Lotgering succeeds Chieri Kimura and will report directly to NTT DATA, Inc. President and Global CEO, Abhijit Dubey. She will also join NTT DATA, Inc.’s Executive Leadership Team. Lotgering brings over two decades of leadership experience in IT services and telecommunications, with a strong track record in B2B2C and B2B sales, digital marketing and transformation. She joins NTT DATA from Proximus NXT IT where she served as CEO, overseeing the IT integration of B2B operations across the Netherlands, Luxembourg, and Belgium. Her recent achievements include the successful unification of multiple subsidiaries into a single, agile organization, strategically aligned with high-growth sectors such as cloud, cybersecurity and data. Her career spans senior roles at The Orange G
CorFlow Therapeutics Announces FDA Approval of the MOCA-II IDE Pivotal Trial to Validate a Novel Heart Attack Care Technology7.7.2025 14:00:00 EEST | Press release
CorFlow Therapeutics AG (CorFlow), a pioneering company in the field of cardiac care targeting microvascular disease, today announced that the U.S. Food & Drug Administration (FDA) has approved the company’s technology for investigational device exemption (IDE), which allows the pivotal clinical trial to begin at U.S. hospitals. CorFlow will now prepare these clinical trial sites to receive CorFlow systems, undergo training and begin enrolling patients being treated for heart attacks. The IDE Pivotal Trial, MOCA-II, is intended to prospectively validate the diagnostic accuracy of the proprietary CorFlow CoFl system in determining the presence or absence of microvsacular obstruction (MVO) during a primary PCI procedure. The primary endpoint compares the CoFI diagnostic reading to a reference standard of diagnosis by a cardiac MRI scan. The trial is approved to enroll over 200 STEMI patients at prestigious research institutions in both the United States and Europe. Having successfully co
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom