Apple Music and Spotify and Others Make Up Majority of Revenue from the Music Industry

Apple Music and Spotify

The America Recording Industry Association has recently reported that Apple Music, Spotify and other music streaming platforms have a commanding share of the total music industry in the US for the first half of 2019.

Revenue is up 26% from last year at an approximate $4.3 billion, with segments coming from subscription-based models such as Apple Music and radio services SiriusXM and Pandora as well as YouTube.

Subscription-based models are the highest income earners, collectively at $3.3 billion. In the paid streaming category, the reports have included Limited Tier models such as the one Pandora Plus and Amazon Prime have, accounting for $482 million.

The surge is attributed to new users that averaged a million a month in the past 12 months and in the paid subscription increase up 30%, or equal to 61.1 million new users.

Apple Music is keeping pace with Spotify, currently the market leader with 232 millions users spread out on the free-to-listen and paid tiers.

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