As per research, global subscriptions of online music streaming platforms witnessed a 32% increase YoY (year-on-year), accounting to 358 million subscribers in the year 2019.
With 35% of total paid subscriptions and 31% of total revenue, Spotify leads the game.
Apple Music ranks 2nd in the list with 19% of total paid subscriptions and 24% of total revenue of the online music streaming industry. Subscriptions of Amazon Music reached 15% share, positioning it at the 3rd place.
By the end of year 2020, subscription for online music streaming services is expected to exceed 25% year-on-year so as to cross 450 million subscribers.
