Is the biggest recorded-music market in the world nearing ‘peak streaming subscriptions’ for music? In an article for Billboard, former Spotify chief economist Will Page offers some reasons for optimism, even though there are now 110 million music subscribers in a country with 110m households.
For example, he notes that there were worries that Sweden and Norway were reaching their ceiling back in 2015, but since then their subscriber numbers have grown by 85% and 78% respectively.
Page also notes that only 58% of the current US subscribers are actually paying themselves, while 38% are part of a family plan and 6% are on trials.
He also points to cross-usage – “about one-third of those who use Amazon Music (paid for as part of their Prime membership) also use Spotify or Apple Music, and about one-third of the subscribers to those services also make use of Amazon Music” – and the potential to convert more of the estimated 68 million Americans under the age of 25 who listen to music for free on YouTube too.