YouTube Music grew 170% ranking #6 by MAU for music streaming apps — competing with industry leaders including Spotify and Apple Music.
YouTube Music has significantly grown its music streaming service over the last year. YouTube Music grew 170% in global smartphone monthly active users year over year in June 2019 — outpacing the growth rates of leading contenders including Spotify, Apple Music and Soundcloud. In 2018, over 50 million users in the US paid for music subscriptions — an industry that drove $9.8 billion in revenue. As the market becomes increasingly competitive, music streaming platforms are challenged with keeping listeners engaged and continuing to drive downloads. Exclusive content, curated playlists and subscription bundles are strategic offerings music streaming services can leverage to entice paid subscribers.
Why It Matters:
YouTube Music rose 7 ranks from #13 to #6 over the course of 12 months by global smartphone MAU as of June 2019. Launched in late 2015, YouTube Music is a relatively new entrant in the music streaming space, and has made impressive strides in amassing a sizable user base — particularly in the last year in part by leveraging YouTube’s large existing user base and powerful discovery engine.
For a deeper dive on where music streaming fits into the state of mobile in 2019, check out our latest analysis:
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This post is the latest in a Mobile Minute series that features App Annie’s perspective on how mobile is impacting current events and consumer trends. Check in weekly for our take on the latest news cycles and how mobile transformation is shaping industries around the world.
July 31, 2019Mobile Minute