Q4: 2016 Streaming Music Market Update Competition Is Hotting Up
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The 20,000 Foot View: 2015 was the year in which streaming music came of age but 2016 was the year when it hit the long anticipated milestone of million subscribers, transforming the global recorded music business. 2016 was defined by accelerated subscriber growth, steady global expansion, new competition and strengthening streaming brand identities. Mobile was the catalyst for growth in the earlier days of paid streaming and is now its defining component. This report deep dives into streaming music app usage, exploring behaviours, audiences and cross-app usage.
Key Findings:
- The global streaming music market grew by billion in 2016 to reach billion with billion of that revenue occurring in 2016
- In December 2016, global streaming subscribers hit million
- Spotify closed out the year with million subscribers, Apple with million and Deezer with nearly million
- Apple and Spotify together account for of the entire music streaming subscriber base
- YouTube is the most widely used streaming app for music with Weekly Active Users (WAU) penetration
- Spotify has WAUs, Amazon and Apple Music
- YouTube for music has the highest penetration among year olds
- Spotify leads WAU penetration across all English speaking markets ranging from in the UK through to in Canada
- The Amazon Prime Music mobile app has helped drive strong usage in the US and the UK and WAU penetration respectively) of Spotify WAUs are also Amazon Prime Music WAUs of Apple Music WAUs are also Spotify WAUs
Companies and brands mentioned in this report: Amazon Prime Music, Anghami, Apple Music, Deezer, Google Play Music All Access, MelON, Napster, QQ Music, Spotify, Soundcloud, Tidal, YouTube