Research firm Counterpoint Research has published its latest analysis of the global music streaming market, claiming that it was worth $6.7bn in the second quarter of 2020.
That’s growth of 13% year-on-year, but a decline of 2% quarter-on-quarter – “the first-ever QoQ decline in terms of revenues” for music streaming.
Important caveat: Counterpoint hasn’t broken this figure down into subscriptions versus advertising – we know ad revenues took a major hit in Q2, but subscriptions seemed to be decelerating but not declining. Spotify, for example, saw its subscription revenues grow by 3% quarter-on-quarter in Q2, but its ad revenues fall by 11%.
Counterpoint’s latest figures also suggest a slight increase in Spotify’s share of global subscriptions: from 33% in Q1 to 34% in Q2. Second-placed Apple Music is pegged at 21% in both quarters, while third-ranked Amazon Music had 15% in Q2.