YouTube Music 2022 Recap Is Here To Review Your Year In Tunes

It’s commonplace in the music industry to say that three services dominate the streaming marketplace. Technically, that’s true, but it’s also misleading.

It’s a fact that between them, Spotify, Apple, and Amazon represent more than 60% of the global music streaming industry. It’s also a fact that Spotify dwarfs its competitors: Spotify’s 33% market share as of 2021 is more than Apple (18%) and Amazon (14%) combined. Tencent and Google’s YouTube Music round out the top five providers (via Business of Apps). Where streaming is concerned, it’s Spotify’s world; other apps are just living in it.

Tencent is the instructive case. Tencent is primarily a Chinese provider, but it’s undergone slow but steady growth in most of its marketplaces, despite Spotify and Apple both being available in China. Where music is concerned, users tend to identify services they like and stick with them. Smart services reward users for steady engagement. Spotify is particularly good at that (via Platform).

That’s the greater significance of seemingly minor moves, like the various Recap services. Music services have to do everything they can to retain customers in a competitive market with one clear dominant presence. Offering a distinct service occupying the same niche as Spotify Wrapped is one way to do so.

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