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Despite the seemingly impressive growth of the company, tough Spotify booked a loss of 110 million euros in the third quarter of 2019, shaking from a profit of 241 million euros. The company said it was the result of the discount plans offered to increase its user base.
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As stated in the Billboard Report, music streaming sales accounted for 56% of global music sales in 2019, streaming revenue rose 23%, subscription revenue rose 24%, and 40% of label revenue.
On the Music Streaming Tree topic, Spotify claims 35% of the music streaming market share, along with Apple Music (19%) and Amazon Music (15%), claiming the top three of the market with 67%.
These trends are expected to become even more entrenched in the future. Spotify is on track for 2021 by bringing record-hold users to the platform in 2021, whilst hitting short-term profits. This is the first time I’ve had many of them. Nika San Juan says she is a financial expert across the music streaming market.
“By the end of 2020, music streaming revenue is expected to reach $16.4 billion, according to Statista. That’s an increase of 15.0% year-on-year. The segment’s user base is expected to reach 595.8 million by the end of the year, marking a previous 15.1% increase.”
“Revenue from music streaming is expected to grow at a combined annual growth rate (CAGR) of 5.4% between 2020 and 2025, reaching $21.3 billion, totaling 933.2 million users.”
