Combined, Yandex, TME and NetEase account for 20% of subscriber market share, but they drive 37% of all subscriber growth in the 12 months leading up to Q2 2021.” Yandex, in Russia, was the other big gainer, doubling its subscriber base to reach 2% of global market share. Together, they accounted for 18% of global market shares, despite being available only in China. Between them, Tencent Music Entertainment (TME) and NetEase Cloud Music added 35.7 million subscribers in the 12 months leading up to Q2 2021. “But the biggest subscriber growth came from emerging markets. The report also mentions that the biggest growth can also be found in emerging markets, and Tencent Music also gained a lot of new subscribers. YouTube Music particularly resonates among Gen Z and younger Millennials, which should have alarm bells ringing for Spotify, as their core base of Millennial subscribers from the 2010s in the West are now beginning to age.”
“YouTube Music was the only Western DSP to increase global market share during this the period.
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