Spotify Continues to Lead the Music Streaming Space; Apple Music Comes in Second
Jan. 23, 2022Spotify Dominates Music Streaming Market
According to a recentmarket research reportby MIDiA,Spotify holds a 31 percent market sharein the music streaming industry. As for its fiercest competitor, Apple Music, followed right after and came in the second position with only a 15 percent market share. However, there are some underlying details in the report that you should know about.
Nonetheless, Spotify has been on the top for a long time now, and despite its decreasing market share, other companies are nowhere close to surpassing it in the near future, as per the report. The company has introducedseveral new featuresto improve its streaming service andhelp users discover new music. It is expected to further improve its platform to garner more users in the coming months. However, there’sone feature that seems to be MIA and that’s the Spotify HiFi, which will bring lossless audio support to the platform.
Apple Music, on the other hand, has been gradually climbing up the list by garnering more users. The Cupertino giant introducedsupport for Spatial Audio and Hi-Res Lossless Audio for Apple Musicearlier last year at no extra cost for subscribers. Recently, the company alsointroduced a low-cost voice-only planfor its music streaming platform. It relies only on Siri for music playback. With these features andpersonalized playlists, Apple aims to lure more users to its streaming service.
A geek at heart, you’ll find me fidgeting with an iOS device or sitting in front of the laptop, scouring the internet to find interesting technological innovations. In my free time, you’d find me playing Valorant or listening to Pink Floyd.
