Since its conception, music streaming service Spotify has accumulated over 40 million subscribers and has been seen as the sole giant of the industry. With a net worth of over 400 million dollars, the platform’s seemingly apparent monopoly has been hard to tackle. Many have tried and failed, including the celebrity backed and endorsed TIDAL.
Founded by headlining names such as Jay-Z and his wife Beyonce, Kanye West, Jack White, and Nicki Minaj, TIDAL was only able to recently break 3 million subscribers, not even a tenth of spotify’s growing audience. However, in June of 2015, Apple announced its own streaming service and has since grown a subscriber base of over 13 million paid users in just over a year. This is the closest any streaming service has come to competing with spotify, although with only 1/4th of the current spotify user base, it comes nowhere close to toppling the giant.
One advantage apple has, however, is name recognition. If someone who knows nothing about both services decides they want to stream music, the go to would most likely be apple’s platform, purely because of the name attached to the product. Along with recognition, apple brings a loyal fanbase to the table. Spotify has had to build its user base from the ground up, and doesn’t have as much brand-wide trust as their competitor.
Spotify’s sheer number of users is a tough problem to tackle, but Apple music’s growth over the past year has been phenomenal. Will the unwilling David take down the unlikely Goliath?