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
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
Reply AI Music Contest - Announced the Winner of the First International Competition Connecting AI Technologies With Music and Live Performances7.7.2025 13:21:00 EEST | Press release
Reply, an international group specialized in the creation of new business models enabled by Artificial Intelligence, is proud to announce the winner of the first edition of the Reply AI Music Contest—an international competition, organized in collaboration with the Kappa FuturFestival, aimed at creatives from around the world interested in exploring new ways to combine music, visuals, and AI technologies within live performances. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250707851551/en/ The winner is the production ‘Sinvocea’ by DeLaurentis, a DJ and producer based in Paris, who incorporated AI into her electronic compositions, utilising AI-generated vocals and real-time processing. A pioneer in the use of AI in music since 2018, DeLaurentis incorporated these tools into her creative process: treating technology as an extension of her voice, she has developed a unique approach where real-time vocal improvisation genera
TH Global Capital Closes 4 Major M&A Deals in Australia in 4 Months Including the Sale of The Missing Link to Infosys7.7.2025 12:59:00 EEST | Press release
TH Global Capital, an award-winning global boutique investment bank with a presence in 13 countries, has closed four high profile deals in the first four months of 2025, including the sale of The Missing Link to Infosys for 120 million AUD. This marks its tenth cross border transaction in Australia over the past 18 months, cementing its position as the mid-market M&A boutique investment bank of choice in Australia and New Zealand. Sale of The Missing Link to Infosys – The Missing Link, an award-winning cybersecurity and IT services provider based in Sydney, will join Infosys to deliver cybersecurity solutions and expand Infosys’s presence in Australia. Sale of TMLabs to Coforge – TMLabs, a ServiceNow Elite partner and digital transformation leader headquartered in Sydney, strengthens Coforge’s ServiceNow capabilities in Australia and leverages TMLabs’ existing contracts. Sale of Skie to Bluprintx – TH Global Capital’s 13th transaction in ANZ and 12th Salesforce deal globally. Skie, a l
Everyone Talks CX. Almost No One Delivers.7.7.2025 11:51:00 EEST | Press release
Global cloud communications platform Infobip has today released findings from a new study conducted by Harvard Business Review Analytic Services (HBR-AS) revealing a sharp disconnect in customer experience (CX): while 93% of those surveyed from the HBR audience recognize the high importance of creating positive conversational experiences, only 36% believe their organization is highly effective at it. Even more striking, just 11% report they’re highly effective using AI to deliver human-like conversations. The untapped potential of AI in customer engagement The report, “Conversational Experiences: The Untapped Potential of AI in Customer Engagement” highlights a gap between organizations’ ambitions and execution: while many use SMS, messaging apps, email and chatbots at key points, most still fail to deliver the seamless, intuitive conversations customers expect. “While everyone talks CX, almost no one delivers,” said Ben Lewis, VP Marketing and Growth at Infobip. “When brands can’t del
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