Spotify Market Share 2024: A Statistical Breakdown of How Spotify Still Dominates the Industry

Spotify Market Share 2024

Spotify has forever changed the way we listen to music.

Gone are the days of vinyl records and CD players. Today, we operate digitally. While there are dozens of music streaming platforms, none have quite been able to capture the market, like Spotify.

Unlike other platforms, Spotify didn’t just stick to music. They expanded beyond music to podcasts as well.

As the music streaming and podcasting industry grows, Spotify looks to continue to exert its dominance.

Understanding Spotify market share statistics can help you see where the trend is going, allowing you to make smarter decisions as a consumer, business owner, or investor.

Spotify Statistics – Key Findings

Spotify Statistics

  • As of Q1 of 2023, Spotify reported having over 515 million active users, up 22% year-over-year. For perspective, in Q1 of 2015, they only had 68 million monthly active users.
  • Spotify has 210 million premium subscribers, which gear 15% year-over-year. In Q1 of 2015, they only had 18 million paying subscribers.
  • Ad-supported revenue for the Q4 of 2022 reached €329 million, led by the growth of podcast listeners.
  • In 2022, Spotify reached a revenue of $12.6 billion, and they expect to reach an annual revenue of $100 billion within the next ten years.
  • Spotify ARPU (average revenue per user) within Premium was $4.77 in Q1 of 2023.
  • Spotify generated 238 million new app installs across Google Play and the App Store and was the 10th most downloaded mobile in 2022.
  • Spotify takes the lead when it comes to user satisfaction with an NPS score of 66. Google Play Music only received 60, and Pandora got 55.
  • Spotify has over 100 million songs in its library and over 5 million podcast titles.

Sources: Spotify, Backlinko, Mobile Marketing Reads, Quantum Marketer, Kommando Tech, Demand Sage

Spotify Market Share Statistics

Spotify continues to take a stranglehold of the entire music-streaming industry.

In fact, they account for 30.5% of the entire global music streaming market.

Music Streaming Services Market Share

The primary competitors include Apple Music, Amazon Music, Tencent Music, and YouTube Music.

Apple Music has 13.7% of the market share, Tencent Music has 13.4%, Amazon Music has 13.3%, and YouTube Music comes in with 8.9%.

Since 2015, Spotify has ranged between 30% to 43% of the market share among paying music streaming users.

Sources: Statistica, Kommando Tech, Forbes, Backlinko

Key Findings From Our Survey Poll

We’ve performed our own proprietary study with 1,010 qualified Spotify users with a few survey questions to see their responses. This helps us see if a small sample size of responses can help us find insight or draw conclusions.

  • The average age of Spotify users is 33.68 years old.

Spotify Age Statistics

  • Among the study, 566 participants were male (56%), and 445 were female (44%).

Spotify Gender Statistics

  • About 98% of participants use Spotify to listen to music, and 1.58% don’t use Spotify at all.

Spotify Usage Statistics

Spotify Users By Age and Gender

Spotify user demographics are inclined toward millennials and Gen Z.

Given the platform’s focus on newer music releases and wide-ranging music, the age distribution follows an expected pattern.

  • Around 26% of Spotify users are between 18 and 24 years old, and 29% are aged 25 to 34.
  • The age group of 35 to 44 accounts for 16%, age 45 to 55 has 11%, and 55+ have 19%.
  • Spotify is the most popular music streaming app for listeners under 30. About twice as many people below 30 listen to Spotify than Apple Music.
  • Spotify has captured 39% of the total music listeners under 30, while Apple Music has only 20% of total listeners in that same age range.
  • Spotify reached about 2% of those in the 65 and older age group.
  • Spotify has slightly more male than female users – about 58% of its audience is men.

Sources: Tech Penny, Quantum Marketer, Tech Report, Kommando Tech, Demand Sage

Spotify Subscribers by Location

Spotify Stats by Location

To many people’s surprise, North America isn’t the biggest market for Spotify.

Europe holds the largest number of users, with over 124.1 million monthly active users.

That equates to 34% of total Spotify users. North America has 24% of total Spotify users, Latin America with 22%, and the rest of the world is at 20%.

Spotify Usage Stats

Spotify Usage Statistics

One sign of market dominance is the usage rates of its users. Spotify has become part of the daily lives of many users.

  • 44% of monthly active users use the platform daily.
  • North Americans spend the most time on Spotify daily, with an average daily usage of 140 minutes. Latin American users have an average daily usage time of 117 minutes, and European users only use it on average for 99 minutes daily.
  • The average number of artists a user streams per week is 41.
  • Spotify active users listen to about 25 hours of content per month.

Source: Kommando Tech

Spotify Artist Statistics

Spotify Artist Statistics

Spotify is currently the go-to platform for artists and creators to get paid – and the stats back it up.

Spotify released its annual royalties report, noting that the number of music artists earning over $1 million and generating over $10,000 doubled within the past five years. Specifically, 1060 artists earned over $1 million, and 57,000 artists generated $10,000 or more through Spotify royalty.

  • In 2022, Spotify paid over $8 billion to its artists, while the all-time payout to music rights holders is nearly $40 billion.
  • The estimated value of a music stream payout to an artist ranges from $0.00318 to $0.006 per stream.
  • Bad Bunny, the Puerto Rican rapper, was the most streamed artist on Spotify from 2020 to 2022.
  • As of May 2023, The Weeknd has the most monthly active listeners, with over 108 million, and is the first music artist to reach 100 million monthly listeners on the platform.
  • Taylor Swift, in 2023, currently has the most monthly listeners at over 90 million (the first female artist to reach that number).
  • Ed Sheeran has the most followers at over 111 million, and Ariana Grande ranks second at over 90 million. BTS is the most-followed music group, with over 69 million followers.
  • The number of music artists using the Spotify for Artists tools monthly has grown by 68% year-over-year, making up over 690,000 users.
  • There are over 11 million artists and creators on the Spotify platform.
  • Bad Buddy’s Album, “Un Verano Sin Ti,” was the most streamed album of 2022, and Harry Style’s single, “As it Was’ ‘is the most-streamed song.

Sources: Reuters, Variety, Guinness World Record, Weeknd – Spotify, Taylor Swift – Spotify, Chart Masters, Mobile Marketing Reads, Demand Sage

Spotify Podcast Statistics

Spotify Podcast Statistics

Spotify hasn’t just changed the game for music but for podcasts as well.

They’re the only prominent app that gives podcast ads the same advantages as video and displays ads.

Podcast owners can insert preset ads to their show, allowing consumers to directly click on the link within the app, which better measures the effectiveness of their ads and more effectively matches shows with their sponsors.

Here are useful podcast stats to consider:

  • Spotify has over 5.5 million podcasts in its catalog, and increasing at a rapid rate.
  • It’s available in 180 countries. Spotify has grown its presence to over 80 countries since 2020 and still counting.
  • The most listened-to podcast on Spotify is the Joe Rogan Experience.
  • The other most popular podcasts on Spotify include Crime Junkie, Call Her Daddy, The Daily, and The Armchair Expert with Dax Shepard.
  • Spotify holds #2 in market share in the podcast industry with 28.2% of podcast listeners, and Apple Podcasts with 37.6%.
  • The top five most popular podcast genres among Spotify listeners are Society & Culture, Comedy, Lifestyle & Health, Arts & Entertainment, and Education.

Sources: Pod News, The Motley Fool, Backlinko, We Share, Demand Sage

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