MUMBAI: Swedish streaming service, Spotify, has become the world's most popular music streaming application, according to the app analytics firm- App Annie. The report was based on the databases, in terms of active users, downloads and revenue. 

Spotify released its own data illustrating its growth, knocking Pandora off its perch. 74 million users streamed over 20 billion hours of music in 2015, and Spotify's personalised ‘Discover Weekly’ reached 1.7 billion within its first 5 months. Additionally, Spotify now has 2 billion playlists on its service. 

However, in the United States, Spotify still faces competition from Pandora as the latter continues to remain the most popular among American music service users. Emerging markets seem to prefer local streaming services as users come online via mobile phones. 

The latest chart for revenues generated, shows Spotify leading Pandora, which is then followed by Deezer and Beats Music. The rest of the chart includes other familiar music streaming players, with TIDAL and LINE MUSIC - the only newcomers - positioned at number five and nine, respectively. However, the newest music services have a long way to go in the download rankings.

For Android phones, Spotify still remains on top, while Indian streaming services- Saavn and Gaana have managed to make it to the list in ninth and tenth positions, respectively.

Spotify has huge scope of growth in terms of attracting more users. It leads the download charts in most countries from Europe, along with dominating the market in Mexico.