In this article, we will be covering the top 20 Spotify users by country. This article will cover recent industry trends in music and navigate through the major players in the industry. If you want to skip our analysis, go directly to the Top 5 Spotify Users by Country.
According to a report by Mordor Intelligence, the Music industry is expected to grow from a valuation of $28.29 billion in 2023 to $42.62 billion by 2028 at a compound annual growth rate (CAGR) of 8.54%.
Music is a form of art and an association with one's culture. Globalization has fueled the use of online platforms for music consumption, contributing to a decline in physical means of music. Some of the most popular music streaming services include Spotify, Amazon Music, Apple Music, and Soundcloud. Easy access to music and the ability to personalize your library based on your tastes gives power to the user, which is a significant selling point for Spotify Technology S.A. (NYSE:SPOT). As of now, the United States has been dominating the market for music streaming. Of all the music streaming customers, almost 32% have a Spotify subscription.
Ever since its inception in 2006 in Sweden, Spotify Technology S.A. (NYSE:SPOT), has managed to make a name for itself in the global market. According to the company's 2022 annual report, as of 31 December 2022, Spotify Technology S.A. (NYSE:SPOT) had 489 million monthly active users and generated an annual revenue of $12.8 billion. If you are an investor who is interested in increasing their exposure to the music industry, check out some of the best music stocks to invest in.
A Music Streaming App or a Marketing Tool?
Music and movies go hand in hand as a form of art. In fact, they contribute to each other's success. Successful movies tend to have their music streamed more often and vice versa. On July 28, Forbes reported the worldwide success of the famous Barbie Album before and after the release of the Barbie movie. "Dance the Night" by Dua Lipa has been streamed almost 139 million times on Spotify Technology S.A. (NYSE:SPOT) since its release on May 25.
The intertwining of music and movies does not end here. In fact, on July 21, Spotify Technology S.A. (NYSE:SPOT) reported that to celebrate Barbie's success, the app temporarily rebranded with the official Barbie colors. The rebranding included displaying the movie songs in the hero section of the app while also converting the play bar to a hot pink.
Spotify's Major Competitors
Spotify Technology S.A. (NYSE:SPOT) is known in the music and podcast streaming industry. With massive year-on-year growth, the company is amongst the leaders of the industry. However, the success of Spotify Technology S.A. (NYSE:SPOT) comes with competition from giants like Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc (NASDAQ:AAPL), and Alphabet Inc (NASDAQ:GOOG)'s YouTube.
Amazon Music is a popular music and podcast streaming app by the giant Amazon.com, Inc. (NASDAQ:AMZN). Amazon.com, Inc. (NASDAQ:AMZN) is a leading company, providing services and products in several domains. With the integration of technology and AI, Amazon Music boasts over 80 million app users.
Apple Music is owned by the famous Apple Inc (NASDAQ:AAPL), and is one of the major competitors of Spotify Technology S.A. (NYSE:SPOT). On June 6, Forbes reported how Apple Music is changing the music listening experience by integrating crossfading into its mobile application. Crossfading is a tool that allows seamless transitions from one song to the next. For avid music listeners, this is great news.
YouTube Music, owned by the giant Alphabet Inc (NASDAQ:GOOG) has long been the sole ruler of the music industry. Compared to its rivals, Spotify Technology S.A. (NYSE:SPOT) and Apple Music, YouTube Music lacked in their offerings to the average music listener. However, as reported by Forbes on April 11, with its new update, the app now displays real-time lyrics on the YouTube Music app for Android and iOS. While this is not unique to Spotify or Apple Music users, it indicates that YouTube Music is still in the race to become the best music streaming company.
On July 28, Spotify Technology S.A. (NYSE:SPOT) published earnings for the fiscal second quarter of 2023. The company boasted massive success in this quarter posing an upward trajectory in the number of monthly active users of the app. Here are some comments from Spotify's CEO, Daniel Ek:
"We beat our own expectations again, across both MAU and subs. And in addition, it’s really gratifying to see the outperformance in growth that continues to come from markets all over the world. So let me share some more context on the growth this quarter before we go into what it ultimately means for the business. So this quarter netted the highest MAU growth in Spotify’s history. And as a point of comparison, our growth this quarter was 36 million compared to Q2 of 2022, where we saw MAU growth of 19 million. And this reacceleration is significant and shows that our investments in adding podcasts and improving our platform and user experience are paying-off nicely."
While the competition for Spotify Technology S.A. (NYSE:SPOT) may be high, the company is highly popular across the globe. Let's take a look at some of the top 20 Spotify users by country.
Acquiring data for Spotify users in each country was challenging. However, we were able to acquire regional data from the company's 2022 annual report. Using the data, we were first able to rank the regions. Since the data for Spotify users was unavailable, we ranked the data based on the young population statistics acquired from The World Bank. Our hypothesis was based on the assumption that countries with a large percentage of the population between the ages of 15-64 would translate to a larger number of Spotify users. Spotify Technology S.A. (NYSE:SPOT) has a range of features catering to people from different age groups. Aside from a music streaming service, Spotify also offers podcasts, audiobooks, and even videos for users. The age group of 30-64 is the second largest segment of Spotify users.
For the year ended 2022, Spotify Technology S.A. (NYSE:SPOT) had about 433 million monthly active users. Among them, 34% are from Europe, 24% are from North America (Canada and the United States), 22% are from Latin America, and 20% are from the rest of the world. Therefore, you will see European countries ranking at the top of the list and the rest ranking lower.
Since we were unable to acquire the exact number of Spotify users from each country, our ranking may not be perfect. However, it is a reasonable approximation of the top 20 countries that use Spotify the most.
Top 20 Spotify Users by Country.
20. Australia
Percentage of Monthly Active Users of Spotify in The Rest of The World: 20%
Youth Population as a Percentage of Total Population: 64.92%
Australia ranks among the top 20 Spotify users in the world. This is primarily because Australia is home to a large population lying between the ages of 15-64. Australians are fond of rock, pop, and adult contemporary music.
For the complete music experience, you can also check out other music streaming services such as Amazon Music by Amazon.com, Inc. (NASDAQ:AMZN), Apple Music by Apple Inc (NASDAQ:AAPL), and YouTube Music by Alphabet Inc (NASDAQ:GOOG)'s YouTube.
19. India
Percentage of Monthly Active Users of Spotify in the Rest of The World: 20%
Youth Population as a Percentage of Total Population: 67.80%
India is among the largest users of the Spotify app for music and podcast streaming. Since India is home to a number of distinct cultures, the type of music listened to by the general population varies from bhangra to sufi, to light classical music.
18. Singapore
Percentage of Monthly Active Users of Spotify in The Rest of The World: 20%
Youth Population as a Percentage of Total Population: 73.04%
Singapore has a large population that lies between the ages of 15-64. Hip-Hop, R&B, and pop are some of the most popular genres of music listened to in Singapore.
17. Mexico
Percentage of Monthly Active Users of Spotify in Latin America: 22%
Youth Population as a Percentage of Total Population: 67.17%
Mexico is among the top 20 Spotify users in the world. Mexicans are fond of rock music as their favorite music genre, followed by pop and traditional Mexican music.
16. Brazil
Percentage of Monthly Active Users of Spotify in Latin America: 22%
Youth Population as a Percentage of Total Population: 69.85%
Samba, Bossa Nova, and pop are some of the most common genres of music listened to in Brazil. With a large population between the ages of 15-64, the country ranks well among the top 20 Spotify users in the world.
15. United States
Percentage of Monthly Active Users of Spotify in North America: 24%
Youth Population as a Percentage of Total Population: 64.91%
The United States may be the country with the most Spotify users according to unofficial reports. However, based on our methodology and lack of official data, we were to rank the European Countries above in the list based on the information available. Hip-hop and rap are some of the leading genres of music listened to in the United States followed by Pop and Rock.
14. Canada
Percentage of Monthly Active Users of Spotify in North America: 24%
Youth Population as a Percentage of Total Population: 65.39%
Canada is among the top 20 Spotify Users in the world. Hip-hop and rap are some of the leading genres of music listened to in Canada followed by Pop and Rock music.
13. Sweden
Percentage of Monthly Active Users of Spotify in Europe: 34%
Youth Population as a Percentage of Total Population: 62.15%
Spotify was founded in Sweden in 2006, and ever since, it has been one of the most popular streaming apps in the world. Sweden ranks among the top 20 Spotify users in the world. Popular genres of music listened to in Sweden include Pop, Rock, and traditional folk music.
12. United Kingdom
Percentage of Monthly Active Users of Spotify in Europe: 34%
Youth Population as a Percentage of Total Population: 63.36%
The United Kingdom is among the top 20 Spotify users in the world. The British are fond of Pop music as their favorite music genre, followed by Rock and R&B dance music.
11. Italy
Percentage of Monthly Active Users of Spotify in Europe: 34%
Youth Population as a Percentage of Total Population: 63.52%
Instrumental and Vocal Classical Music are some of the most common genres of music listened to in Italy. With a large population between the ages of 15-64, the country ranks well among the top 20 Spotify users in the world
10. Germany
Percentage of Monthly Active Users of Spotify in Europe: 34%
Youth Population as a Percentage of Total Population: 63.63%
Germany is among the top 20 Spotify users in the world. The Germans are fond of Pop music as their favorite music genre, followed by Rock and Hip-hop.
9. Netherlands
Percentage of Monthly Active Users of Spotify in Europe: 34%
Youth Population as a Percentage of Total Population: 64.26%
The Netherlands ranks among the top 20 Spotify users in the world. This is primarily because the Netherlands is home to a large population lying between the ages of 15-64. People in the Netherlands are fond of electronic, pop, and adult contemporary music.
8. Norway
Percentage of Monthly Active Users of Spotify in Europe: 34%
Youth Population as a Percentage of Total Population: 64.86%
Norway is among the top 20 Spotify users in the world. The Norwegians are fond of Pop music as their favorite music genre, followed by traditional Norwegian music and ballads.
7. Ireland
Percentage of Monthly Active Users of Spotify in Europe: 34%
Youth Population as a Percentage of Total Population: 65.28%
Irish Traditional Music, ballads, and laments are some of the most common genres of music listened to in Ireland. With a large population between the ages of 15-64, the country ranks well among the top 20 Spotify users in the world
6. Switzerland
Percentage of Monthly Active Users of Spotify in Europe: 34%
Youth Population as a Percentage of Total Population: 65.64%
Switzerland is among the top 20 Spotify users in the world. The Swiss are fond of Swiss folk music as their favorite music genre, followed by contemporary adult music.
Some of Spotify Technology S.A.'s (NYSE:SPOT) top competitors are, surprisingly, Big Tech companies including Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc (NASDAQ:AAPL), and Alphabet Inc (NASDAQ:GOOG).
