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
Netceed appoints Eric Updyke as Group CEO10.11.2026 15:15:00 CET | Press release
Netceed, a global leader in delivering supply chain solutions across broadband, data center and energy infrastructure, today announced the appointment of Eric Updyke as Group CEO, effective 10th November, 2026. He succeeds Alper Türken, who will step down as CEO on 10th November, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110492065/en/ Netceed appoints Eric Updyke as Group CEO Eric brings more than 35 years of leadership experience in communications and technology infrastructure. Most recently, he served as CEO of Spirent Communications plc from 2019 to 2025. At Spirent, he led the company's shift from a hardware-centric vendor to a solutions provider built on software, automation and services. He also expanded the business into new sectors, including AI data center providers, and guided it through a strategic sale, culminating in its $1.5 billion acquisition by Keysight Technologies in 2025. Before Spirent, Eri
Nearly Nine in 10 Private Capital GPs Face Data Validation Challenges10.11.2026 15:00:00 CET | Press release
88% of GPs say finance and operations teams spend 11% to 50% of their time validating, reconciling, recalculating, or recreating administrator outputs70% of GPs are targeting outsourced or strategic co-sourced operating models, while 97% of LPs expect outsourcing to specialist providers to increase74% of LPs identify IT systems and cybersecurity as important to operational due diligence, while 59% want a documented AI and data governance framework shared during due diligence Nearly nine in 10 (88%) of private capital general partners (GPs) surveyed say their finance and operations teams spend between 11% and 50% of their time validating, reconciling, recalculating or recreating administrator outputs, according to new research from CSC, the leading provider of global business administration and compliance solutions¹. CSC surveyed more than 300 GPs and 200 limited partners (LPs) across North America, Europe, the U.K., and Asia Pacific. The report, Future Private Capital CFO 2026, examine
80% of IT Leaders Say the Digital Workplace Is Critical to AI Success, Yet Only 10% Have Fundamentally Redesigned It, Lenovo Research Finds10.11.2026 15:00:00 CET | Press release
Global study of 1,200 IT leaders identifies five connected dimensions of workplace readiness and shows where organizations can focus to turn AI ambition into measurable business value Eight in ten IT decision makers say the digital workplace is critical to successful AI-led transformation, yet only 10% report fundamentally redesigning it for AI, according to Lenovo’s sixth Work Reborn report, The AI-ready workplace. The findings expose a significant gap between deploying AI tools and the operating capabilities needed to integrate them into how work gets done across an organization. The report frames workplace readiness as a connected system spanning people, workflows, technology, support and governance, with each contributing to how enterprises translate AI ambition into business outcomes at scale. Based on an August 2026 survey of 1,200 IT leaders at organizations with at least 1,000 employees across 12 countries, the report examines the workplace conditions needed to translate AI dep
The $63.4 Billion Innovation Drain: Study Finds Unexpected Tech Costs Force Cuts into AI Investment and Hiring10.11.2026 15:00:00 CET | Press release
New economic research reveals how unpredictable infrastructure costs are constraining innovation, with potential savings that could support more than 111,000 jobs and generate $20.4 billion in long-term growthAI/ML infrastructure overspend is the most of any technology category at 37% ($23.4bn) of the total, and nearly twice as hard to forecast84% of organizations made at least one cost-driven trade-off over the past year Businesses across eight major economies incur $63.4 billion annually in technology infrastructure overspend attributable to opaque, unpredictable or difficult-to-forecast provider charges, forcing companies to scale back investments in artificial intelligence, hiring and new product development, according to new economic research from the Centre for Economics and Business Research (CEBR), commissioned by Wasabi Technologies. The overspend reflects infrastructure provider charges businesses could not forecast, rather than their own planned usage. AI and machine learnin
Echodyne EchoShield® Selected for BAE Systems Anti Threat System10.11.2026 15:00:00 CET | Press release
High-fidelity MESA® radar data strengthens BATS’ integrated “sense, decide, effect” mission chain Echodyne, the radar platform company, today announced that its EchoShield radar has been selected and integrated into the BAE Systems Anti Threat System (BATS), providing the precise, persistent airspace data required to detect, classify, track and respond to uncrewed threats. BATS recently completed live trials in Scotland, demonstrating its ability to integrate multiple sensors and effectors through a single command-and-control architecture to identify and respond to evolving drone threats in real time. EchoShield® has been selected as one of the sensors supporting this open and interoperable architecture. BAE Systems is Europe’s largest defense company with its equipment, systems and services fielded by more than 25 European nations. BATS is a modular, software-defined counter-uncrewed systems capability that connects current and future sensors and effectors through a secure, resilient
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