New Research Suggests Spotify Is Pulling Away From Apple Music
A new report from Counterpoint Research finally sheds some light on what might be going on in the music streaming race between Spotify (NYSE: SPOT) and Apple (NASDAQ: AAPL). Spotify reports its monthly active user (MAU) and subscriber data quarterly, but Apple and other competitors keep their numbers close to the vest. They aren't required to report them since their music services are typically a small part of their overall business.
According to Counterpoint Research, global online music streaming subscriptions grew 32% last year to 358 million. The group believes this growth was fueled by original podcast content, which drove people toward platforms and eventually converted them into paying subscribers. Promotional price cuts in certain emerging markets and bundled offers from telecom companies also added to the growth.
Most interestingly, Counterpoint estimates that global online music streaming subscriptions will grow more than 25% to surpass 450 million subscriptions by the end of this year.
Source Fool.com
