I'm pretty sure if I ask this question in my economics class, then the answer will be Spotify! Indeed a quick show of hands a few days ago revealed that, not only did most students use Spotify regularly, the majority were now paid-up subscribers, joy to the ears of Spotify founder Daniel Elk!
But perhaps Spotify's near 40 million user base looks small compared to the number of listeners to music available on You Tube? I was really interested to come across this chart from Statista.
You will find more statistics at Statista
According to data released by the International Federation of the Phonographic Industry (IFPI), 82 percent of YouTube users utilize the platform to listen to music.
YouTube pays lower licensing fees to the music industry than services such as Spotify because it classifies itself as a hosting platform rather than a content distributing platform and a platform for aspiring/emerging musicians and bands to promote their music.
YouTube pays lower licensing fees to the music industry than services such as Spotify because it classifies itself as a hosting platform rather than a content distributing platform and a platform for aspiring/emerging musicians and bands to promote their music.
The research finds more than seven in 10 internet users aged 16-64 across four continents actively engage with licensed music: they purchase CDs and vinyl, they buy digital downloads, they listen on streaming services, and they watch music videos. In fact, nearly half of all internet users (48 per cent) have paid for music in some form in the last six months.
Key data for Spotify
| Company | Values | Statistic |
|---|---|---|
| Spotify's annual revenue | €1.95bn | Details → |
| Spotify's revenue from subscriptions | €1.74bn | Details → |
| Spotify's revenue per employee | €798,906 | Details → |
| Number of Spotify employees | 1,610 | Details → |
| Users | Values | Statistic |
|---|---|---|
| Number of paying Spotify subscribers worldwide | 40 million | Details → |
| Monthly active users of Spotify's Facebook app | 39.74m | Details → |
| Usage | Values | Statistic |
|---|---|---|
| Spotify's total annual streaming hours | 4,500m | Details → |
| Spotify's total playlist created | 1,000m | Details → |
| Most weekly streamed track on Spotify: Closer by The Chainsmokers | 42.54m | Details → |
Key data for You Tube
| Overview | Values | Statistic |
|---|---|---|
| Leading global video property, ranked by share of total videos viewed | Google Sites (YouTube) | Details → |
| Most popular online video platform in the U.S., by number of total streams | YouTube | Details → |
| ACSI - U.S. customer satisfaction with YouTube | 77% | Details → |
| Original Content | Values | Statistic |
|---|---|---|
| U.S. users who regularly watch favourite YouTube channels | 41.6% | Details → |
| YouTube: Amount of U.S. users are not willing to pay for premium content | 54% | Details → |
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