There are now over 12.7 million Australians (61 per cent) on music streaming services, with Spotify leading the way, according to new data from Roy Morgan.
Spotify now has around 8 million Australian listeners, marking a 122 per cent increase since 2017.
Behind Spotify is YouTube Music (5.5 million), which has increased dramatically since Google introduced a button for existing users of Google Play Music to switch their music libraries, playlists, and preferences over to YouTube Music in January this year.
Apple Music and Soundcloud are the third and fourth most popular music streaming options.
However, Roy Morgan CEO Michele Levine tipped Apple to make back some ground.
“Competition in music streaming is set to increase with global tech giants Apple and Amazon both significant players. Apple Music launched in 2015 replacing the music service iTunes, while Amazon Prime Music launched in Australia less than two years ago in late 2018,” said Levine.
“The two trillion-dollar tech companies are also big players in Australia’s increasingly competitive Subscription TV/streaming video market with Apple TV+ and Amazon Prime Video. The dynamics within both markets illustrate the power of the large global players to drive convergence and entice consumers to their platforms.
“In an increasingly interconnected world, the ability of these companies to enter new markets and challenge existing players means existing market leaders like Spotify need to stay on top of exactly who and where their customers are.”
The research also found music streamers tended to be young, tech savvy and ready to spend.
The ‘quintessential streamer’ is a young woman under 35 years of age and likely to be in full-time white-collar employment.
This listener is also more likely to watch Pay TV/Subscription TV in an average week and far more likely to view a movie at the cinema.
“Those listening to music online tend to be younger and more open to new ideas than the average Australian, and ready to spend their money to seek out new experiences whether travelling, sampling different cuisines are trying the latest tech products,” said Levine.
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