Posted Jul 13, 2019 by Adam Still.
Spotify, Apple Music and Amazon Music are three big names in the music streaming market. While Spotify ranks first, it turns out that Amazon Music is growing faster.
For the moment, Spotify is the leader in the music streaming market. Apple is catching up fast. The latest news is that the Apple brand platform had 60 million subscribers. However, it seems that a third guy could invite himself to the party: Amazon Music is showing rather insolent growth.
Amazon Music is growing faster than Spotify
Amazon Music reported growth of about 70% in 2018 and today accounts for about 32 million subscribers. While these figures are still far from those of Apple and Spotify, if this growth can be maintained, the giant e-commerce American should be back rather quickly. Spotify, on the other hand, is growing more slowly, “only” 25% a year.
Will Amazon Music manage to worry about Spotify and Apple Music?
Amazon Music is rather late in this market: the service was launched in 2016. In the same way as Apple Music, Amazon has the advantage of being able to count all its Echo customers for which Amazon Music has been optimized. It also seems that Amazon’s music streaming service is particularly attractive to the elderly. The over 55s account for 14% against only 5% at Spotify.
According to Amazon Music director Steve Boom: “We are not necessarily fighting for the same customers as others. In order for the industry to reach its full potential, it is impossible to be confined to the 15 to 22 age group.” According to rumors, Amazon would plan to launch a high-fidelity option for Amazon Music and the giant would work on a new generation of Echo devices offering better audio quality.