Spotify's Main Competitors In The Music Market

Spotify, a music streaming service from Sweden, is a confident leader in the global music market. This leadership is due not only to quality features and effective music offerings for users, but also to the creative marketing policies of the management of this service.

But the high profitability of streaming music services could not leave Spotify’s main competitors in the music market in peace. Therefore, Spotify had and still has competitors who continue to claim leading positions in the global music industry.

Music streaming is a goldmine for startups, bands, and labels. It is not surprising that streaming has competitors who, although not catching up with the Swedes in many respects, have been breathing hard in the back for more than a year:

  • Apple Music. Judging by user feedback, creating playlists by interests works crookedly, but streaming has at least 90 million paid subscribers. The secret is that Apple “supplies” music lovers with exclusive albums from various artists that have not yet officially seen the light of day. It is worth noting that this service is actively developing, and in theory it can force the Swedish application out of the market, challenging its leadership in the industry. For example, in America’s largest music market, the rivalry between the two services is particularly fierce.
  • SoundCloud. The work of the service is in many ways similar to Spotify, but there is a subtlety – this streaming specializes in new little-known artists, mainly in the rap and indie genres. Not to say that the platform is overflowing with similar compositions, but there are a lot of them. A good option for those who like to be the first to get acquainted with the work of not yet promoted musicians. In addition, this service is available in a free version, which attracts a huge number of new users.
  • Deezer. This French-based music streaming service loves up-and-coming artists, has over 30,000 radio stations and a huge number of podcasts. Allows users to play with playlist settings in any way (track shuffle, continuous playback). It features a large number of ads on a free subscription (the functionality is not cut down much, but the ads are really annoying). The cost of premium access results in almost $20 per month. A significant advantage of the service can be the high quality of the sound of musical content.

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Pandora. This Internet radio has been operating since 2002, attracts 75 million monthly users, and specializes in radio stations. There are not very many ads, the subscription costs $5 per month, playlists are customizable, everything is great, if not for one “but”. This service is only available in the US, Canada, Mexico, New Zealand and Australia.

Yes, there are competitors, and strong ones, but more than 400 million active monthly users and more than 170 million paid subscribers speak volumes – no one has yet been able to reach this number.

This company is a vivid example of what a sincere desire to help musicians (earn their hard-earned money) and music lovers (enjoy your favorite tracks without restrictions) can lead to. The project is appreciated for its intuitive interface, high quality of recorded tracks, interesting updates and amazing customization of the smart profile for its owner. And this is just the beginning. The founders of Spotify promise that they are only trying their hand – the best will be ahead.

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