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
Azafaros Completes Enrollment of Phase 3 (NAVIGATE) Study Evaluating Nizubaglustat for the Treatment of Patients with GM1/GM2 Gangliosidoses23.7.2026 13:00:00 CEST | Press release
NAVIGATE comprises two pivotal Phase 3 studies investigating nizubaglustatRecruitment completed in Phase 3 registrational study in patients with late-infantile and juvenile GM1/GM2 gangliosidosesEnrollment in Niemann-Pick type C disease (NPC) Phase 3 study is ongoingTopline data from GM1/GM2 gangliosidoses Phase 3 study is anticipated in early 2028 Azafaros, a private company building a portfolio of disease-modifying therapeuticsto become a leader in lysosomal storage disorders (LSDs) focused on addressing neurological symptoms, today announced the completion of patient recruitment in its Phase 3 study evaluating nizubaglustat for the treatment of GM1/GM2 gangliosidoses. “Completing enrollment in our Phase 3 GM1/GM2 study is a significant step toward potentially bringing nizubaglustat to patients and families living with these devastating neurodegenerative diseases," said Stefano Portolano, Chief Executive Officer at Azafaros. "We are deeply grateful to the patients, caregivers, invest
Francisco Partners Closes $21 Billion Across Flagship and Agility Funds23.7.2026 13:00:00 CEST | Press release
Largest fundraise in the firm’s history brings total capital raised to more than $75 billion Francisco Partners (“FP”), a leading global investment firm that specializes in partnering with technology companies, today announced the closing of $21 billion in capital commitments across its Francisco Partners VIII, L.P. flagship fund and Francisco Partners Agility IV, L.P., its middle-market fund. FP exceeded its initial targets of $14.0 billion and $3.5 billion, respectively. This milestone builds on Francisco Partners' longstanding track record of performance, underscored by its distinction as the only firm to rank among the top three performers in each of the past six HEC-Dow Jones Large Buyout Performance Rankings.* “In our business, long-term success is created through a series of relationships built on years of trust and collaboration," said Dipanjan (“DJ”) Deb, Co-Founder and CEO of Francisco Partners. "We want to thank our investors for their support, our management teams for their
Taiwanese ensembles showcase erhu and ocarina at Prague Folklore Days23.7.2026 10:21:00 CEST | Press release
The Prague Folklore Days 2026 was held on July 17 and 18 in the heart of Prague, bringing together 56 international arts groups from Germany, Austria, Slovakia, Spain, the Netherlands, and Poland. Four Taiwanese groups took part: Hildebrand Yu’s ocarina band, the Shi-xian Huqin Orchestra, the Taipei Folk Orchestra, and the Four Strings Ensemble. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722841530/en/ Taiwanese ensembles showcase erhu and ocarina at Prague Folklore Days Led by Huang Chun-sin, the official Taiwan representative band featured a diverse lineup of ocarina, erhu, and dance performers. Their program stood out among the European groups with its distinctive character and vivid stage presence. Hildebrand Yu’s ocarina band captivated audiences with warm, uplifting melodies accompanied by the ocarina and ukulele. Yu also performed “Twilight Waltz,” delivering a heartfelt piece of poetic expression, like sunlight
Taiwan Children’s Choirs Garner Major Awards at Hungarian Choral Competition23.7.2026 09:33:00 CEST | Press release
Competing against 36 leading contenders from 20 countries, four Taiwanese children’s choirs have garnered several major awards and top honors at the 5th Budapest International Choral Celebration, showcasing Taiwan’s cultural diversity and music excellence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722613876/en/ Puzangalan Children’s Choir and Yo Wu Wei Children’s Chorus join forces with international choral ensembles and orchestras to perform Mozart’s Requiem Mass in D minor, K. 626 at the Béla Bartók National Concert Hall of Müpa Budapest. With its pure, angelic voices and exceptional vocal techniques, Puzangalan Children’s Choir from Pingtung County won the top prize, Laurea Summa Cum Laude, in the Grand Prix Competition’s Youth Choir of Equal Voices, Folklore, and Sacred Music categories. In the Open Competition, Yo Wu Wei Children’s Chorus claimed three gold prizes in the categories of Youth Choir of Equal Voices
Evotec Selects Navan to Unify Global Travel, Payments, and Expense Management23.7.2026 09:00:00 CEST | Press release
Global drug discovery leader partners with Navan to drive operational excellence and eliminate manual expense reporting Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced that Evotec (NASDAQ: EVO; Frankfurt Prime Standard: EVT), the global drug discovery and development company, has selected Navan to manage its complete corporate Travel and Expense (T&E) program in its top global markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722261092/en/ Global drug discovery leader partners with Navan to drive operational excellence and eliminate manual expense reporting A life science company that is pioneering the future of drug discovery and development, Evotec had historically managed T&E independently across different countries, meaning employees were dealing with a patchwork of different tools and manual offline processes. As part of its focus on operational excellence, Evot
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