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Spotify doubles market share in 2011 despite growing competition
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Spotify is beating rival music services when it comes to market share of the global music-streaming market despite the growing number of rivals. The firm accounted for 18.7% of global music subscribers in 2011, double the 9.14% share it held in 2010, according to calculations from Arctic Startup. IFPI figures show that the number of global music subscribers stood at 8.2m in 2010, with Spotify boasting 750,000 paying users. Global subscribers then grew to 13.4m in 2011, while Spotify more than doubled its paying subscriber base to 2.5m, essentially meaning that the firm managed to maintain its growing share of the market even as competition in the streaming space tightened. By contrast, further calculations by StrategyEye also show that while Spotify's rivals are gaining new paying users, they are struggling to replicate its growth as more services enter the market and existing services expand.
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