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Music subscriber market shares 2022 Chinese Dragon

Report by Mark Mulligan
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The 20,000 foot view: As the world edges towards a recession, the music streaming market continues to stand strong. Despite indications of slowdown in some markets, the global music subscriber market remains buoyant. Growth, though, is uneven, with a number of leading streaming services outpacing the rest, especially the Chinese ones, which are now setting the global pace.

Key insights:

  • Spotify was            largest digital service provider (DSP)                       million subscribers in            2022 and            subscription trade revenue in calendar            (CY) 2021
  • Spotify added            subscribers than any other DSP                       2021 to            2022            million), but            grew slower than the market,            market share
  • Apple remained            with            million, but share was            down
  • Tencent Music            (TME) became the third largest            in            2021, adding            million subscribers,            reach            million subscribers            market share)
  • Amazon Music            fourth, with            million) and YouTube            (at fifth, with            million) both            share            2021 to            2022
  • US subscriber            is slowing, with            million additions            the            months up to            2022,            to the            million one year           
  • Apple Music            Amazon Music are the most            on their subscribers in the            with            and            respectively
  • The UK            the fastest growing mature market,            more subscribers            million) than it            one year earlier            million), with            Music adding the most
  • Spotify leads            market share            but lost ground            competitors, including Amazon Music, which                       Germany is Amazon’s fourth largest           
  • Swedish subscriber            slowed to            between            2021 to            but label trade revenues grew                       in CY 2021, showing how            markets can grow
  • Local services            South Korea, with MelON accounting                       of South Korea’s            million subscribers,            Genie second with           
  • Brazil added            subscribers            million) between            2021 and            than any previous year, and            more than it did one            previously
  • Japan is            third largest subscriber market            million),            though additions slowed slightly in            its            growth was significantly above            global rate
  • With            million            China added more subscribers in            year than all but two            globally, and will likely pass            US by end 2023

Companies and brand mentioned in this report: Amazon Music, Anghami, Apple Music, AWA, Deezer, Gaana, Genie Music, Hungama, Jio Saavn, Line Music, Melon, Netease Cloud Music, Pandora, SoundCloud, Spotify, Tencent Music, Tidal, Vkontakte, Wynk, YouTube Music, Xiami, Yandex

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