Amazon Music Grows Faster than Apple Music or Spotify, a Report Reveals

Amazon Music is growing faster than Apple Music or Spotify. A recent report says that Amazon Music unlimited has a rapid increase in the number of people subscribing to the music streaming service. Spotify, which dominates the market in subscription, lags behind Amazon in its rate of growth in subscriptions which is at 25 per cent.

According to the Financial Times report, the number of people subscribing to Amazon Music unlimited grew 70 per cent in the last year. Amazon, which started the music streaming service in 2016 currently has around 32 million subscribers across its music services, including Unlimited and Prime Music.

Amazon Music targets the older consumers, unlike its rivalries whose customers are young. The data collected by Midia Research and published by the Financial Times found that Amazon has 14 percent users over the age of 55 while comparing to Spotify which has 4 percent. Amazon Music VP Steve Boom had earlier said that Amazon is not looking for the same customers as everyone else.

The report says that the proliferation of Amazon Echo smart speakers and other devices with Alexa has played a key factor in the rapid growth of Amazon Unlimited Music. These devices default to Amazon services even though it can play music from other devices.

Amazon Music Unlimited is also cheaper than most other services. The subscribers of Amazon Music Unlimited need to pay $10 a month while it is $8 a month for Prime members. People who only listen through echo devices only need to $4 a month. Thus, it has emerged as the most convenient and affordable option.

Albeit the rapid growth of Amazon Music Unlimited, it still lags behind its competitors in subscription count. Apple Music has about 60 million subscribers and Spotify has more than 100 million subscribers comparing to the 32 million subscribers of Amazon Music. It clearly indicates that Amazon has a long way to go to catch up with its rivalries.