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In 2024, Spotify had approximately 262 million subscribers, positioning itself once again as the leading platform in music streaming services. Tencent, in second place, recorded a total of 122.7 million users during the same period, with Apple Music in third place.

Spotify, the rival to beat

Although Apple and Amazon's music services have seen their account numbers increase in recent years, they have not reached Spotify's figures. Like its competitors, the Swedish multimedia company has continued to grow, especially thanks to its strong reception in Europe. Indeed, the Old Continent accounts for nearly 30 percent of its monthly active users. However, the progress the platform has made in the Latin American and North American markets, which account for almost 40 percent of subscribers, should not be underestimated. All this has contributed to the steady increase experienced by Spotify's revenues, which by the end of 2024 approached 15.7 billion euros.

Streaming music worldwide

But beyond winners and losers, there is an undeniable reality. Streaming music has become a key component within the music industry. In 2023 alone, it generated nearly 19.5 billion U.S. dollars for the music industry. This not only represented an increase of more than 1.5 billion compared to the previous year but also accounted for 67.3 percent of the revenue generated by the sector worldwide. A large part of this amount was due to paid users of various on-demand music services. In fact, more and more people are opting for a premium account to avoid ads, among other advantages. In the last year, the number already exceeded the threshold of 660 million.