Spotify is a digital music- streaming platform that allows users to listen to their favorite music of all genres. This company was founded in 2006 by Daniel Ek and Martin Lorentzon. Currently, its headquarters are in Sweden. Spotify has established itself with more than 300 million monthly active users. Music is the soul of life. People want their music application to be versatile with many genres of music and Spotify has become their first choice. Let’s know more about Spotify Competitors.
The music streaming market is very competitive nowadays. Spotify also faces tough competition from other music streaming applications. Spotify faces competition from Amazon Music, Apple Music, YouTube Music, Google Play Music, and many more. It generates its revenue through paid subscriptions or advertisements from various businesses. Low opportunities for the artists to promote their music at Spotify and the high cost of subscriptions led to the emergence of these music streaming competitors in the market.
About Spotify:
Currently, Spotify is a big name in the music area. Spotify is no less than heaven for music lovers as it has a diverse collection of music. It also creates personalized playlists for users to collect their favorite songs. Right now, Spotify has captured 33.8 percent of the global market in the music industry. It has more than 70 million tracks for the users to vibe along with. It also has a big collection of podcasts to kill some time.
Spotify generates revenue through paid subscriptions and advertising. A paid subscription to Spotify lets users enjoy unlimited music without any ads. They can also download and listen to their music online.
Apple Music:
Apple launched its music-streaming platform in 2015. Since then, they have put good competition in front of Spotify. Users need to pay for the subscription either monthly or annually. Apple has been marketing Apple Music constantly by adding new music every day. Its extensive music library makes it a strong contender. Still, Spotify has more diverse music. Apple also promotes brands synergistically to promote user growth. But Spotify focuses more on music which makes it a significant player.
Amazon Music:
Amazon Music was launched in 2007. Its headquarters are in Seattle, Washington. With more than 55 million listeners Amazon Music has become a big alternative to Spotify. It has become the second biggest competitor because of its marketing strategy. It is added along with the user’s prime subscription so users find it more cost-effective than Spotify. It has a collection of more than 70 million songs in all genres.
Amazon is a retail store that faces some challenges to establish Amazon Music as a digital music streaming platform. People still look for Spotify and Apple Music when they listen to music. Nonetheless, it still generates a good queue and stands along with Spotify in the music business.
YouTube Music:
YouTube Music is a music streaming platform that has become popular lately. YouTube launched its music service in 2015. Users can listen to any song and album freely with some in-between advertisements. It allows users to browse music of any genre and make their favorite playlists. YouTube has more than 16 million monthly paid subscribers. It has diverse music genres and makes a strong contender in front of Spotify.
But still, it is behind mega music streaming platforms like Spotify. It needs to work through marketing strategies, branding, and music promotions to overpower Spotify in the market.
Google Play Music:
Google launched its music service in 2011, as an Android app. Google itself is a mega internet company in the market. Its high reputation in the business has led Google Play Music to stand against Spotify. Users can use Google Play Music on android. It is available in more than 60 territories and users can store more than 40000 songs on their phones.
Pandora:
Pandora was founded in 2000 but later it was acquired by SiriusXM. This merger led to a big revenue generation in the music market. Pandora provides an amazing feature to the user where it explains the harmony, rhythm, and instrumentation to the listeners. It has more than 6 million monthly subscribers. It is not close to Spotify in the market but still, users opt for it as a good alternative.
Conclusion:
Spotify has indeed achieved tremendous success in recent years. It has now become the most popular music service. Other streaming platforms like Apple Music, YouTube Music, and Google Music are posing a threat to its popularity by emerging as new streaming services. Spotify is still far ahead right now in the music market. All other competitors still need to work harder to catch up to the level and popularity of Spotify.
- Who is Spotify’s most significant competitor?
Apple Music is presently the major competitor of Spotify.
- How much is the Spotify subscription?
Spotify subscription costs around $9.99 per month.
- How much is the Spotify subscription for 12 months?
Spotify subscription is around $99.99 annually.
- Is Amazon Music included with Prime membership?
Yes, Prime users get Amazon Music along with their subscription.
- Why is Spotify better than its competitors?
Because of its personalized playlists and better recommendation to the listeners.
- Which music subscription is the best?
Spotify is currently the most popular music subscription option.
- Which is better: Spotify and Pandora?
Spotify is considered better than Pandora.
- Which is better: Apple Music or Spotify?
Spotify is better in terms of podcast options and connectivity.
