Spotify and Apple Music reach 51M paid subscribers in the US
Music streaming services have become quite relevant for people and the music industry. It generates 65 percent of all music revenue within the US, and it is going to keep on growing. Spotify and Apple Music alone, have reached the amount of 51 million paid subscribers, twice as many as what they had in 2016.
MusicWatch has been gathering this data, and it has now shared with Billboard. The publication has noted that besides those paying subscribers, Spotify and Apple Music also have 20 million users with paid accounts in family plans and 29 million extra users on free trials or bundled deals. The two giants of the music streaming services will apparently keep on growing and maintain their dominance of the market since they hold at least 80 percent of all paid market in the US. This gives less than one in five listeners shelling out to Google, YouTube, Amazon, iHeartRadio and Pandora that comes in third with 6 percent of the market share.
They also found out that at least 48 percent of the paid subscribers own some sort of portable MP3 player or a smart speaker back at home. What about you, do you pay for music streaming services?