COUNTERPOINT-RESEARCH
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/
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 .
View source version on businesswire.com: https://www.businesswire.com/news/home/20201007005474/en/
Link:
About Business Wire
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
Citi and Ant International Pilot AI-Enabled Forecasting Solution to Enhance FX Risk Management for Airline Customers18.7.2025 04:30:00 CEST | Press release
Ant International’s Falcon TST Model will give Citi’s clients an improved FX risk management solution when selling through e-commerce channels.Pilot airline customer of the jointly-developed solution has already seen a cost reduction in their Fixed FX Rates hedging programme for online ticket sales. Citi and Ant International announced today that they are piloting the use of Ant International's Falcon Time-Series Transformer (TST) Model to deliver an enhanced FX risk management solution for their customers. Developed with aviation clients as an initial use case, the solution aims to offer greater payment solutions for the airline industry, which processes billions of payment transactions annually. With airline travel set to continue growing, the joint solution combines Ant International's experience with airline payments and Citi's robust FX solutions to help the bank's clients manage their FX costs more efficiently. Ant International’s Falcon TST Model is a transformer architecture-ba
AGC Launches Innovative Fluoroelastomer Without the Use of Surfactants or Fluorinated Polymerization Solvents18.7.2025 04:00:00 CEST | Press release
AGC (AGC Inc., Headquarters: Tokyo; President: Yoshinori Hirai)(TOKYO:5201), a world-leading manufacturer of glass, chemicals and other high-tech materials, proudly announces the launch of surfactant and fluorinated polymerization solvent free grades in its fluoroelastomer “AFLAS™ FFKM” series; the SF grades (the “Products”). The newly developed Products are manufactured entirely without the use of any surfactants*1 or fluorinated polymerization solvents*2. The Products offer high performance equivalent to that of conventional products, while meeting the growing market demand for fluoroelastomers that do not use surfactants or fluorinated polymerization solvents during the manufacturing process. This has been achieved through AGC’s innovative, proprietary polymer manufacturing technology (Surfactant-Free & Fluoro Solvent-Free Technology, hereafter the “Technology”). Initially, this Technology will be applied to the high-temperature-resistant type of FFKM fluoroelastomers and new grades
Andersen Consulting udvider platformen med tilføjelsen af HTP Group17.7.2025 18:46:00 CEST | Pressemeddelelse
Andersen Consulting fortsætter med at udvide sin konsulentkapacitet med tilføjelsen af samarbejdsfirmaet Hoffman Talent Partners (HTP Group), et executive search- og konsulentfirma med hovedkvarter i Bruxelles, Belgien. HTP Group hjælper med at frembringe indflydelsesrige ledere til morgendagens organisationer. HTP formidler arbejdskraft ved hjælp af executive search, midlertidige stillinger og as-a-service-modeller sideløbende med ledelses- og it-konsulenttjenester. HTP Group opererer gennem tre enheder: Hightech Partners, som specialiserer sig i executive search og ledelsesrådgivning til virksomheder, der er aktive inden for digital transformation, Hoffman & Associates, som fokuserer på executive search og interim management på tværs af sektorer og funktioner på bestyrelses- og direktionsniveau, og Ataya & Partners, som fokuserer på digital governance og yder rådgivning inden for cybersikkerhed og databeskyttelse. "Organisationer under forandring har brug for ledelse, der kan holde t
Dubai Launches World’s First Icon Classification for Human–Machine Collaboration in Research and Publications17.7.2025 18:40:00 CEST | Press release
Classification system sets new standard for transparency in the age of AI-assisted knowledge creation Dubai has launched the world’s first icon-based classification system to represent the level of human–machine collaboration in the process of producing research, publications, and public-facing content. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250717193317/en/ Dubai launches world’s first icon classification for Human–Machine Collaboration in research and publications (Infographic: AETOSWire) Developed by the Dubai Future Foundation (DFF), the Human–Machine Collaboration (HMC) Icons offer a new global standard for transparency, clearly indicating the extent to which humans and AI worked together throughout the creation process. The classification is free to use, copyrighted for consistency, and openly available for researchers, publishers, and content creators worldwide. His Highness Sheikh Hamdan bin Mohammed bin Rash
Battery Ventures Promotes Justin Rosner to Partner17.7.2025 15:47:00 CEST | Press release
Battery elevates 11 team members worldwide to bolster its multi-stage investment strategy across software/AI, infrastructure tech and industrial technology Battery Ventures, a global, technology-focused investment firm, today announced nearly a dozen new internal promotions across four offices, including the elevation of Justin Rosner—a specialist in industrial technology and life-science tools—to partner. Battery also named four new principals across its venture-capital and private-equity practices, highlighting the firm’s penchant for promoting talent from within the firm. The new principals are Sudheendra Chilappagari in San Francisco; Michael Hoeksema in New York; Lior Mallul in Tel Aviv; and Lauren Wedell in Boston. Wedell and Mallul both joined Battery in 2018, while Hoeksema joined in 2017. Chilappagari, a former founder and technology product executive, joined the firm in 2021. “These promotions highlight Battery’s continued, global investment focus, even in the face of macroec
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