Spotify has knocked Pandora off the throne to become the most popular music streaming in the world, according to a new report from app analytics firm App Annie.
Spotify has come out on top in terms of revenue, active users, and downloads. And App Annie predicts Spotify will only widen the margin even further in the months to come.
This is not good news for Pandora, though the Oakland-based company maintained the top spot for most active users in the US (on iOS and Android).
Pandora’s CEO Brian McAndrews recently implied that Spotify had an unsustainable business model, and was burning money in an attempt to build its user base. That strategy seems to be working for Spotify, at least in the short term. McAndrews elaborated on his position in an op-ed published today.
Pandora has seen recent stock troubles after a $85.9 million loss last quarter seem to shake investor confidence.
Here is a chart of the top music streaming apps, compiled by App Annie:
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.