Market Share of Cloud Music Services Industry
The cloud music services market is highly competitive and consists of several major players. In terms of market share, a few significant players currently dominate the market. These major players with high rankings in the market are focusing on expanding their customer base across foreign countries.
In May 2022, Amazon Music launches its services in Argentina. The service is already available in Colombia and Chile, and adding Argentina will expand its reach in Latin America. The streaming app will also feature locally curated playlists and stations.
In August 2022, a German media company, RTL Deutschland, joined forces with Deezer to launch the music streaming app RTL+ Musik. Subscribers can now enjoy over 90 million tracks, 5,000 curated playlists, and other key music streaming features.
In July 2022, Spotify, for the first time, announced the expansion of video podcasts in six non-English-speaking countries like Germany, France, Italy, Spain, Brazil, and Mexico. These markets have strong communities of podcast creators who are experts in the newest technologies and ideas for making content. This move was planned to bring new innovation and gain popularity among users around the world.
Cloud Music Services Market Leaders
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Spotify AB
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Apple Inc.
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Amazon.com Inc.
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Deezer SA
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Pandora Media Inc.
*Disclaimer: Major Players sorted in no particular order
