Global Online Music Streaming Growth Slowed Down in Q2 2020
7.10.2020 13:32:00 EEST | Business Wire | Press release
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
IFF Launches PureStrong™, a Probiotic Made Specifically for Dogs2.4.2026 15:15:00 EEST | Press release
IFF (NYSE: IFF)—a global leader in flavors, fragrances, food ingredients and health & biosciences—is introducing PureStrong™, a new probiotic developed exclusively for canine digestive health. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260401736960/en/ IFF introduces PureStrong™, a probiotic made specifically for dogs. Today, many people consider their pet dogs part of the family. This shift is fueling rapid growth in the $3.2 billion U.S. pet supplement market. With nearly half of U.S. pet owners having purchased or considering probiotics for their dogs, PureStrong™ sets a new standard: pet‑first science built specifically for canine biology. “PureStrong™ is sourced directly from the microbiome of healthy canines and designed to support how dogs actually live—how they eat, travel, age and adapt to change,” said Allyson Fish, senior vice president of health sciences for IFF. “That’s how IFF leads pet wellness: science-dr
Adtran extends 400G to the edge with new Terabit routing solution2.4.2026 15:00:00 EEST | Press release
Adtran today extended its edge routing portfolio with new Terabit-class edge routers, featuring 400Gbit/s interfaces. These new devices give operators a practical, cost-effective way to scale capacity at the network edge without adding space, power or operational burden. Supported by a unified software foundation that simplifies deployment and operations across the portfolio, the solutions provide a consistent, future-ready environment for edge growth. With 100Gbit/s interfaces now widely deployed across fiber access, aggregation and mobile backhaul, operators need higher-capacity edge options that reduce cost, complexity and inventory sprawl. Unlike traditional monolithic platforms, Adtran’s new Terabit-scale edge solution with 400Gbit/s interfaces combines compact, energy-efficient, cabinet-ready designs with optional optical integration for even greater levels of scale and signal amplification. This press release features multimedia. View the full release here: https://www.businessw
Visa Defines the Next Era of Commerce: When AI Becomes the Customer2.4.2026 15:00:00 EEST | Press release
A majority of business leaders are preparing for a world where artificial intelligence doesn’t just assist commerce, it participates in it. New research from Visa (NYSE:V) underscores how quickly that shift is gaining momentum. The Visa Business-to-AI (B2AI) Report, conducted in conjunction with Morning Consult, highlights how AI is already influencing demand. Nearly 40% of Americans have made a purchase they normally would not have considered as a result of using an AI agent or tool. This is an early indication that intelligent systems are beginning to shape how people discover and decide what to buy. The new report also reveals that 53% of U.S. businesses in the survey would allow AI agents to negotiate prices or terms directly with other AI agents on their behalf, signaling that AI-to-AI commerce is poised to scale. At the same time, 71% of businesses say they are willing to optimize products, offers and experiences specifically for AI agents, while 77% are already using or piloting
Traxys Group Completes Acquisition of Carbomax AB Through the Purchase of 100% of Comax22.4.2026 13:01:00 EEST | Press release
Traxys S.à.r.l., a global trader and merchant in the metals and natural resources sectors, is pleased to announce that the previously announced acquisition of Comax2 AB - the holding company of Carbomax AB - from Investment Aktiebolaget Spiltan and the other shareholders of Comax2 AB has successfully closed. Traxys Group has now acquired 100% of the interests in Comax2 AB, making Carbomax AB a wholly owned subsidiary of Traxys Group. All required Swedish regulatory clearances including foreign direct investment and antitrust approvals have been obtained allowing the parties to finalize the transaction. Carbomax AB is a leading Swedish trading house and industrial operator specializing in ferroalloys, carbon products and briquettes. Through this acquisition, Traxys strengthens its presence in the Scandinavian market and reinforces its commitment to advancing sustainable steel production in the region. The combination of Traxys and Carbomax creates significant commercial, operational and
Reply Signs Strategic Collaboration Agreement with AWS to Accelerate AI-Driven Cloud Transformation2.4.2026 11:00:00 EEST | Press release
Reply [EXM, STAR: REY] announced today that it has signed a strategic collaboration agreement (SCA) with Amazon Web Services (AWS) to accelerate the adoption of cloud and artificial intelligence solutions across key international markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260402597802/en/ This strategic collaboration agreement further reinforces Reply’s commitment to enable organizations across industries to harness the full potential of cloud and artificial intelligence technologies. At the core of the SCA is a strong focus on Artificial Intelligence and Generative AI. Leveraging the deep expertise of its specialized companies - Comsysto Reply, Data Reply, Sense Reply, and Storm Reply - Reply supports organizations in designing and deploying enterprise-grade GenAI solutions, including agentic AI systems for autonomous workflows, domain-specialized models for vertical industries, and governance frameworks aligne
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