The research firm Counterpart Research’s report shows that Spotify globally holds 31% of total revenue and 35% of all paid subscriptions. Second place, Apple Music, continues with a 24% share in the sector’s total revenue and a 19% share in the paid subscription base. Looking for subscribers in emerging markets Most new subscriptions to traditional platforms are pouring into emerging markets, especially Brazil, India and Russia. Running on the outside, regional platforms use local content to lead their markets. Gaana is still the number one player in India; Yandex Music, in Russia; Anghami, in the Arab world; and Tencent Music Group, in the Chinese market, with the help of its QQ Music, Kugou and Kuwo applications. The Counterpoint Research analyst believes that the sector will well absorb the impact of the COVID-19 pandemic. “Because of the quarantine, the attraction for news channels and podcasts has increased, while music streaming has dropped. People are actively looking for exclusive news, updates and content. “
