Music streaming subscriptions grew 32 per cent in 2019 with Spotify leading the market: Report

Online music streaming subscriptions grew 32 per cent year-on-year (YoY) globally with 358 million subscriptions in the CY 2019, according to the latest report by Counterpoint Research.

The growth in music streaming subscriptions was largely due to the availability of exclusive content such as podcasts and originals. Promotional activities such as price cuts in subscriptions and bundled offers from telcos had added to the growth, the report said.

Regional and global players are focusing a lot on building exclusive content by acquiring podcast companies and creating individual channels.

“It’s often exclusive content that drives paid subscription growth,” the report said.