Number of Paid Music Subscriptions Outnumber Amount of Netflix Accounts
Music streaming services are on the rise, now with their popularity rising the amount of music accounts outnumber their video counterparts.
For reference, it was estimated that Netflix had well over 70 million subscribers at the beginning of 2016. At the same time, services like Spotify and Tidal accounts combined were only 2 million behind. By the end of the year, reports are saying that figure has shot up to well over 100 million, while Netflix has seen an increase to 94 million. These numbers are nothing to scoff at.
Although the music industry has taken a win in this regard, in terms of revenue, music streaming companies aren’t pulling in as much money as their video streaming equivalent. Netflix reportedly brought in over a staggering $8 billion, while Spotify just hit the $2 billion mark.