SoundCloud Surpasses Major Competitors in Latest Music Streaming Service Ranking
SoundCloud Surpasses Major Competitors in Latest Music Streaming Service Ranking
The music streaming landscape underwent a significant shift in 2023, as evident from the latest report published by Legitary, a prominent player in music streaming analytics. The comprehensive analysis highlighted the operational discrepancies across renowned digital service providers (DSPs), namely SoundCloud, Spotify, and Apple Music. Utilizing an innovative metric known as the 'Legitary Anomaly Score', the ranking gauged the accuracy of reporting practices across various platforms in the industry.
SoundCloud's Impressive Rise
In a surprising twist, SoundCloud emerged as the undisputed leader in the ranking, a remarkable achievement considering the fierce competition with industry heavyweights like Spotify and Apple Music. This achievement not only illustrates SoundCloud's dedication to maintaining transparent reporting practices but also sets a new precedent for the entire music streaming sector. The analysis employed a robust dataset derived from streaming activities throughout 2023, ultimately revealing SoundCloud's commitment to reliability and transparency, which earned it widespread acknowledgment within the industry.
As outlined in the findings, SoundCloud achieved an impressive Legitary Anomaly Score of 0.0074, marking an increase in its ranking by one position. Following closely, Apple Music also climbed one spot, attaining a score of 0.0078, showcasing its efforts in improving reporting standards.
On the other hand, Spotify experienced a setback, dropping two places with a score of 0.008, demonstrating the challenges it faces in maintaining reporting accuracy amid the ever-evolving streaming market.
Mixed Results for Other Platforms
The ranking was not all about triumphs for every platform. Deezer and Amazon emerged positively, registering significant improvements in their respective scores. Deezer ascended three spots to reach a score of 0.009, while Amazon faced a decline of three spots, landing at 0.0225. Meanwhile, YouTube's standing further decreased, dropping three places and achieving a score of 0.0525, which raises concerns about its reporting practices in comparison to its competitors.
Unsurprisingly, TikTok remained the lowest performer in the ranking, maintaining its position among the least transparent services with a score of 0.0731. iHeartRadio also faced difficulties, slipping two places with a score of 0.1542, further reinforcing the need for improvements across the landscape.
Insights from Legitary's CEO
Legitary's CEO, Nermina Mumic, offered insights into the findings, emphasizing that