Market Share of Music App Industry
The Music App Market is moderately fragmented as it currently consists of several large market players. Many key players in the market are in constant efforts to bring advancements. A few prominent companies are entering into collaborations and expanding their global footprints in developing regions to consolidate their positions in the market. The major player in this market includes Spotify AB, Genetec Inc, Apple Inc, Google LLC, Pandora, and others.
In November 2022, Pandora and SiriusXM introduced an artist acceleration program. The initiative promises "targeted programming for a prolonged campaign across SiriusXM channels and Pandora stations, as well as different ongoing marketing support from both businesses". It will concentrate on 6-12 artists per year. The first selection is Coco Jones, a Def Jam Recordings-signed R&B performer, actor, and TikTok celebrity.
In September 2022, Apple announced that it was preparing to release a standalone classical music app along with its popular Apple Music app. The solo classical music app will be included in the upcoming iOS 16 release. Since then, Apple has not commented on the plans in the media; thus, it is unknown if the app will be published in the current year.
Music App Market Leaders
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Spotify AB
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Apple Inc
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Google LLC
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Pandora
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Deezer
*Disclaimer: Major Players sorted in no particular order
