Spotify is conquering more market share of the audio industry every month. According to Voxnest Audience Network data, Spotify is now the market share leader in South America, Central America, South Europe (Italy and Spain), India, and Southeast Asia. Spotify has more than 200 million users worldwide.
Last month, Spotify gained dominance of podcast listening in Spain. Voxnest says this is the “demonstration of the platform’s growing dominance within the Spanish language market.”
Spotify is investing heavily on podcasts. In March, Spotify acquired Parcast, a storytelling-driven podcast studio, and in February it has acquired Gimlet and Anchor. Anchor Sponsorships is the Adsense for podcasts.
Spotify is becoming the company dominating the market of audio listening. eMarketer predicts that Spotify will surpass Pandora Listeners by 2021 in the US. The key for Spotify’s growth appears to be the product availability in all devices.
“Pandora lost users last year because of tough competition from other services attracting people to switch,” said eMarketer forecasting analyst Chris Bendtsen. “Apple Music has been successful in converting its iPhone user base, Amazon Music has grown with smart speaker adoption, and Spotify’s partnerships have expanded its presence across all devices.”
Spotify has however a challenge (or a growth barrier) from the device makers. Last month, Spotify filed an antitrust complaint against the 30% ‘Apple tax’.
Daniel Ek, Founder and CEO of Spotify, says “Apple has introduced rules to the App Store that purposely limit choice and stifle innovation at the expense of the user experience.”