{"id":86648,"date":"2021-07-13T17:00:00","date_gmt":"2021-07-13T16:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=86648"},"modified":"2021-07-13T14:54:32","modified_gmt":"2021-07-13T13:54:32","slug":"youtube-music-is-the-fastest-growing-streaming-platform","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/youtube-music-is-the-fastest-growing-streaming-platform\/","title":{"rendered":"YouTube Music is the fastest-growing streaming platform, according to a report"},"content":{"rendered":"\n<p><em>Image credit: <a href=\"https:\/\/www.youtube.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube<\/a><\/em><\/p>\n\n\n\n<h4><span style=\"color: #3366FF\">The recent Midia Research report has revealed that YouTube Music is the fastest growing subscription based streaming platform.<\/span><\/h4>\n\n\n\n<p>Recently Midia Research released a report that detailed the latest estimates for the size of the global music streaming subscriptions market, with figures from the end of the first quarter of 2021.&nbsp;<\/p>\n\n\n\n<p>Streaming services such as <a href=\"https:\/\/routenote.com\/blog\/spotify-vs-soundcloud\/\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> dominated with an estimated 159 subs at the end of March, giving it a 32% share of the 487 million music subscribers across the globe. This is followed by <a href=\"https:\/\/routenote.com\/blog\/this-week-in-apple-music\/\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Music<\/a>\u2019s 16% market share (around 77.9 million subs), <a href=\"https:\/\/routenote.com\/blog\/how-much-is-amazon-music-hd\/\" target=\"_blank\" rel=\"noreferrer noopener\">Amazon Music<\/a>\u2019s 13% share (63.3 million), and the same 13% rounded share from <a href=\"https:\/\/routenote.com\/blog\/tencent-invests-40m-in-gaana\/\" target=\"_blank\" rel=\"noreferrer noopener\">Tencent Music<\/a> (which has around 60.9 million users).\u00a0<\/p>\n\n\n\n<p>However, it\u2019s the fifth-placed YouTube Music that is showing the most promise with a 60% subscription growth in 2020. The service now has an 8% market share in Q1 of this year with 39 million subscribers. This is a staggering increase as the company reported at the end of Q3 2020 they had 30 million subscribers.\u00a0<\/p>\n\n\n\n<p>Speaking on <a href=\"https:\/\/routenote.com\/blog\/top-playlists-youtube-music\/\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube Music<\/a>\u2019s growth Mark Mulligan of Midia Research said: \u201cGoogle\u2019s YouTube Music has been the standout story of the music subscriber market for the last couple of years, resonating both in many emerging markets and with younger audiences across the globe.\u201d Adding: \u201cThe early signs are that YouTube Music is becoming to Gen Z what Spotify was to Millennials half a decade ago.\u201d\u00a0<\/p>\n\n\n\n<p>However, platforms such as <a href=\"https:\/\/routenote.com\/blog\/tiktok-resumes\/\" target=\"_blank\" rel=\"noreferrer noopener\">TikTok<\/a> are starting to make companies like YouTube a little nervous, as such they are directly trying to combat the short-form video app. <a href=\"https:\/\/routenote.com\/blog\/over-100-countries-can-now-create-youtube-shorts-their-alternative-to-tiktok\/\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube recently dropped its YouTube shorts, which are now available in more than 100 countries.<\/a> It\u2019s certainly an interesting time period in the history of music with signs of some amazing growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recent Midia Research report has revealed that YouTube Music is the fastest growing subscription based streaming platform. <\/p>\n","protected":false},"author":23,"featured_media":86650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13,1,11109],"tags":[28,163,22747,1020,1982,4161,17829,17557],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>YouTube Music is the fastest-growing streaming platform, 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