Estimates suggest that Apple Music had 95 million subscribers worldwide in June 2024, up by 2 million from the previous year. Launched in 2015 by U.S. tech giant Apple, Apple Music is the second largest music streaming service worldwide, competing with market leader Spotify. Spotify remains market leader While Apple Music is a popular music streaming platform, accounting for 12.6 percent of subscribers worldwide, the 2008 founded streaming service Spotify remains the market leader with a subscriber share of nearly 32 percent. Financially this meant that the Swedish company generated a global revenue of 3.7 billion euros through its Premium accounts in the fourth quarter of 2024 alone.Music streaming overall increasesOverall, music streaming has experienced significant growth over the last decade. Even if the annual growth rate is gradually declining, it still stood at over 7 percent in 2024, becoming the music industry’s main revenue driver and reaching a revenue of 20 billion U.S. dollars worldwide in 2024.