For the first time ever, YouTube is no longer the biggest player in terms of music streaming!
According to BuzzAngle, the first half of 2016 has seen quite a few milestones reached. On-demand music streams on digital video platforms have increased 23% in the six months to end of June in the US while on-demand streams have more than doubled – up 108% year-on-year. This makes audio platforms like Spotify and Apple Music the dominant streaming format for the first time in history, beating previous market leaders YouTube & Vevo.
In total, audio streaming platforms saw 114.23bn streams in the six months (55% of total streaming consumption) with video platforms on 95.17bn (45%).
Compare that to the first half of 2015, when audio streaming platforms hosted 54.96bn plays (42% of the market), while video platforms enjoyed 77.3bn (58%).
These details clearly suggest that services such as Spotify, Apple Music and Tidal are yet managing to grow the total US streaming market while stealing market share from YouTube.
Thoughts?
Source: Music Business Worldwide
Khushrav’s passion for dance music started early on as he began creating weekly podcast episodes of the latest electronic music across genres and has mixed over 200 episodes over a span of 5years. As a dance music enthusiast, Khushrav still keeps up to date with every week’s releases, contributing to THE’s Spotify playlists.
- Belgian Interior Minister Hints At Cancellation Of Tomorrowland 2020 - March 28, 2020
- Vini Vici To Perform In Mumbai This October - August 31, 2019
- Don’t Let Daddy Know Is Returning to India This Year - July 7, 2019
