Online Music Platforms Q2 2020 Results Announced
The online music industry, which includes giants such as Spotify and Apple Music and is preferred by more people every year, will be in the second quarter of 2020.
The online music industry, which includes giants such as Spotify and Apple Music and is preferred by more people every year, will be in the second quarter of 2020.
It includes giants such as Spotify and Apple Music and is preferred by more and more people every year. online music industryThere was a slight decline in the second quarter of 2020. The sector, which was on the rise in the early periods of the pandemic, started to decline as the normalization process began all over the world.
Counterpoint ResearchAccording to 's online music industry market research, the industry's total revenue in the second quarter of 2020 $6.7 billion happened. The sector, which managed to achieve a 13 percent increase on a yearly basis, experienced a 2 percent decrease on a second quarter basis.
Tencent Music was at the top of the online music industry
The leader of the online music industry Tencent Music happened. Tencent Music, with its subsidiaries such as QQ Music, Kuwo, Kugoi, dominated 26 percent of the market share. Tencent Music with 12 percent market share Spotify While following two giants, another giant with 10 percent YouTube Music came.
Spotify is the leader in paid subscriptions
When we look at the paid subscription shares in the second quarter of 2020, Spotify It is the leader with 34 percent. Spotify with 21 percent Apple Music, with 15 percent Amazon Music followed. Paid subscriptions in this quarter compared to the previous quarter 35 percentIt increased by 29 percent compared to the same period of the previous year. Research analyst Abhilash Kumar said, “Growth slowed in the second quarter and revenues fell for the first time. There are several reasons for this. There was also a decline in advertising revenues as many companies chose to cut their spending due to the Covid-19 outbreak, but podcasts across different genres managed to offset some of the decline." he made a statement.
coronavirus While many countries and companies were negatively affected economically during the pandemic, the online music industry went through this process successfully. In this process both for paid subscribers Online music platforms, which have experienced an explosion in the number of both general and general users, have now begun to slowly lose this rise.
Every business is unique. Let’s explore how we can tailor these ideas to your own digital project.
