COUNTERPOINT-RESEARCH
7.10.2020 12:34:11 CEST | 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/
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
NetApp Helps Customers Accelerate Adoption of Latest VMware Cloud Foundation Innovations2.9.2026 22:30:00 CEST | Press release
NetApp solutions validated to support VCF 9.1, giving mutual customers access to a modern private cloud with enterprise-grade data management, cyber resilience, and cost-efficient scaling NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, announced new capabilities in NetApp ONTAP® have been tested and validated to support VMware Cloud Foundation (VCF) 9.1, giving customers an optimized and secure data infrastructure foundation for their private and hybrid clouds. By combining the advanced capabilities of VCF 9.1 with cost-effective and enterprise data management with built-in security features from NetApp, including safeguarding data against ransomware attacks with rapid recovery, mutual customers can lower costs and accelerate the deployment of their AI software into production. VMware Cloud Foundation 9.1 provides enterprises with a unified private cloud platform for running both traditional and modern workloads. NetApp's solutions are tested and validated to suppo
Venture Global Announces Closing of $3,000,000,000 364-Day Senior Secured Revolving Credit Facility2.9.2026 22:30:00 CEST | Press release
Venture Global, Inc. (“Venture Global”) announced today that its subsidiary Venture Global LNG, Inc. (“VGLNG”) has entered into a new, $3,000,000,000 364-day revolving credit facility (the “Facility”). Venture Global expects to use the proceeds from borrowings under the Facility for general corporate purposes of VGLNG and its subsidiaries, including to fund certain project costs for the CP2 and Plaquemines bolt-on expansions prior to their respective FIDs. Bank of America, N.A. served as Coordinating Lead Arranger and Sole Bookrunner and will also serve as Administrative Agent. BBVA, Goldman Sachs, ING, J.P. Morgan, Mizuho, MUFG, NBC, RBC, Scotia, SMBC, U.S. Bank, and Wells Fargo served as Coordinating Lead Arrangers and Barclays, Santander, and Deutsche Bank served as Joint Lead Arrangers. About Venture Global Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG) with over 100 MTPA of capacity in production, construction, or development. Vent
Invivoscribe Begins Commercial Shipments of PrepQuant™ Systems, Enabling High-Sensitivity Sample Preparation for MRD Testing2.9.2026 21:31:00 CEST | Press release
New automated platform is designed to improve the quality, efficiency, and consistency of DNA extraction and concentration from large-volume blood and plasma samples, supporting downstream assays capable of detecting disease-associated signals at MRD sensitivity levels. Invivoscribe®, a global leader in precision diagnostics and measurable residual disease (MRD) testing, today announced that commercial shipments of the PrepQuant™ System have begun in North America. First unveiled at the American Association for Cancer Research Annual Meeting in April 2026, PrepQuant is now being delivered to customers, marking the platform's progression from development and validation into commercial deployment. The commercial milestone extends Invivoscribe's capabilities into laboratory instrumentation and addresses a critical bottleneck in highly sensitive molecular testing: efficiently recovering, concentrating, and quantifying DNA from larger blood and plasma inputs. PrepQuant is assay agnostic, de
C.H. Guenther Opens Centre of Excellence in Coventry, UK to Accelerate Bakery Innovation and Support Future Manufacturing Growth Across UK and Europe2.9.2026 18:00:00 CEST | Press release
C.H. Guenther & Son LLC (“C.H. Guenther” or “CHG”), a leading food manufacturer, has opened a new Centre of Excellence (the “Centre”) at its flagship Coventry bakery, creating a dedicated innovation and customer collaboration hub designed to accelerate the development of premium bakery products across the UK and Europe. The new facility has been designed to support CHG’s customers including leading global quick service restaurants, foodservice operators and retailers as they develop, test and refine new bakery products. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260902696890/en/ The purpose-built, 172-square-metre Centre of Excellence brings together a commercial-scale bakery, customer demonstration kitchen, sensory evaluation facilities, innovation suite and dedicated collaboration spaces in one specialized location. Designed to support and accelerate product development from concept through to commercial manufacturing,
Record Asset Management Enters New Phase of Growth2.9.2026 17:35:00 CEST | Press release
Record Asset Management GmbH (“RAM”), a subsidiary of London-listed Record plc (“Record” or the “Group”), is pleased to announce that it is now operating cashflow positive, thereby marking a transition from its investment phase into a growth business within the Group, and a significant milestone towards sustainable profitability. RAM is the European asset management arm of Record, the London-listed specialist investment group managing USD 122 billion of assets on behalf of institutional clients worldwide. Record's client base comprises pension funds, foundations, sovereign institutions and other asset managers, with whom the Group has built long-standing relationships through its focus on bespoke investment and risk management solutions. RAM was established as a sister company to Record’s core currency business and obtained its BaFin license in 2022. RAM has grown rapidly in the last two years and has developed into a diversified private markets platform with dedicated infrastructure e
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