Music Streaming Services Market Overview

The report is titled as' Music Streaming Services Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the music streaming services market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The music streaming services market is expected to grow at a significant rate in the near future.

The music streaming market size was valued at USD 21.1 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 18.8% from 2020 to 2028.

Music Streaming Services Market Definition

Music business all over the world is going through tough times with respect to material music consumption and sales. After the complete digitalization across the world and when the digital market is in the leading position, the music industry is also turning digital at the same rapid pace and thus, the majority of the people obtain their music digitally either by downloading music albums and tracks via legitimate websites or by acquiring music unfairly through unauthorized sources.

Whereas many consumers prefer music streaming services to access their favourite music, and this has exponentially escalated the probability for consumers to approach their desired music legally. Basically, streaming can be referred to as the method of listening to music or watching video in real time instead of listening or watching downloaded data.

With the soaring prevalence of availability of audios and videos over the internet as well as webcasts of live shows and programmes, there is no requirement to download any data, programmes streams the way it unfurls. Music streaming applications such as Amazon music, Apple music, Spotify and Pandora bring the streaming technology into play in order to provide songs that can be played on any type of device, which may propel the growth of the global music streaming services market over the forecast period.

Music Streaming Services Market Dynamics

The extensive penetration of the smartphones and internet among the consumers is majorly propelling the demand of music streaming services across the world, thereby projected to boost the growth of the global music streaming services market in the years to come.

In addition to that, there has been massive adoption of intelligent and smart devices which has further resulted in the surging demand of music streaming services in the global markets. In the present-day world, people are well aware of the advancements in the technology and the emerging digital platforms available for live streaming of music from a legitimate source, owing to which, the global music streaming services market is projected to rise higher in the forthcoming years.

Moreover, the fresh changes in digital technology over the recent decade have also diversified the consumption habits and tastes of the consumers across the world. Same is the case with the music industry, as they are briskly inclined towards digital music platforms, such as online music streaming services. The music streaming service offers authorized usage of music for consumers with both ad-supported and subscription-based forms. Attributable to which, the music streaming services gain massive traction in the global markets, therefore the global music streaming services market is anticipated to witness substantial growth in the given timeframe.

Furthermore, the sudden strike of global pandemic (COVID-19) in the past year canceled and postponed several small and big music events and concerts, leaving behind a disastrous financial impact on the music industry and artists across the world. Owing to which, suddenly, the online music streaming platforms have the responsibility, as artists earning from love shows and concerts shifted to online streaming platforms for their steady income. Such factors are further projected to positively fuel the demand of music streaming services across the world. Owing to which, the global music streaming services market is anticipated to witness significant growth over the coming years.

Music Streaming Services Market Segmentation

The global music streaming services market is segmented on the basis of type, platform, content type, end-user and regions. On the basis of type, the music streaming services market is segmented into on demand streaming and live streaming. On the basis of platform, the market is categorized into Apps and Browsers. Furthermore, the music streaming services market is segmented on the basis of content type into Audio and Video. Furthermore, the market is segmented on the basis of end-user into Individual and Commercial.

By Type

On demand streaming

Live Streaming

By Platform

Apps

Browsers

By Content Type

Audio

Video

By End-User

Individual

Commercial

By Region

North America

Latin America

Africa

Europe

Asia Pacific

Middle East

Music Streaming Services Market Key Players

The global music streaming services market is dominated by Spotify AB, Apple, Inc., Amazon.com, Inc., Google LLC, Deezer, Pandora Media, Inc., Tencent Music Entertainment Group, SoundCloud Limited, Tidal, among others.

MMC Overview on Music Streaming Services Market Report

The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.

A research report on the music streaming services market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of music streaming services

Advantages of music streaming services

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.

1.    Global Music Streaming Services Market Report Overview

1.1.    Introduction

1.2.    Report Description

1.3.    Methodology

2.    Global Music Streaming Services Market Overview

2.1.    Introduction

2.1.1.    Market Definition

2.1.2.    Market Taxonomy

2.2.    Executive Summary

2.3.    Global Music Streaming Services Market Snapshot

2.4.    Global Music Streaming Services Market Size And Forecast, 2020–2028

2.4.1.    Introduction

2.4.2.    Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)

2.5.    Global Music Streaming Services Market Dynamics

2.5.1.    Drivers

2.5.2.    Restraints

2.5.3.    Opportunity

2.5.4.    Trends

2.6.    Porter’s Five Forces Model

2.7.    SWOT Analysis

3.    Music Streaming Services Assessment and Analysis

3.1.    Music Streaming Services Impact Analysis 

3.2.    Actions to encourage use of MUSIC STREAMING SERVICES

3.3.    Music Streaming Services Promotional Strategy Recommendation

3.4.    Road Map Analysis

3.5.    GAP Analysis

3.6.    Potential Analysis

4.    Covid-19 Impact on Music Streaming Services Market

5.    Global Music Streaming Services Market, By Type

5.1.    Introduction

5.1.1.    Annual Growth Rate Comparison, By Type

5.1.2.    BPS Analysis, By Type

5.2.    Market Revenue (US$Mn) and Forecast, By Type

5.2.1.    On-demand streaming

5.2.2.    Live streaming

5.3.    Global Music Streaming Services Market Attractiveness Index, By Type

6.    Global Music Streaming Services Market, By Platform

6.1.    Introduction

6.1.1.    Annual Growth Rate Comparison, By Platform

6.1.2.    BPS Analysis, By Platform

6.2.    Market Revenue (US$Mn) and Forecast, By Platform

6.2.1.    Apps

6.2.2.    Browsers

6.3.    Global Music Streaming Services Market Attractiveness Index, By Platform

7.    Global Music Streaming Services Market, By Content Type

7.1.    Introduction

7.1.1.    Annual Growth Rate Comparison, By Content Type

7.1.2.    BPS Analysis, By Content Type

7.2.    Market Revenue (US$Mn) and Forecast, By Content Type

7.2.1.    Audio

7.2.2.    Video

7.3.    Global Music Streaming Services Market Attractiveness Index, By Content Type

8.    Global Music Streaming Services Market, By End-User 

8.1.    Introduction

8.1.1.    Annual Growth Rate Comparison, By End-User 

8.1.2.    BPS Analysis, By End-User 

8.2.    Market Revenue (US$Mn) and Forecast, By End-User 

8.2.1.    Individual

8.2.2.    Commercial

8.3.    Global Music Streaming Services Market Attractiveness Index, By End-User 

9.    Global Music Streaming Services Market, By Region

9.1.    Introduction

9.1.1.    Annual Growth Rate Comparison, By Region

9.1.2.    BPS Analysis, By Region

9.2.    Market Revenue (US$Mn) and Forecast, By Region

9.2.1.    North America

9.2.2.    Latin America

9.2.3.    Europe

9.2.4.    Asia Pacific

9.2.5.    Middle East 

9.2.6.    Africa

9.3.    Global Music Streaming Services Market Attractiveness Index, By Region

10.    North America Music Streaming Services Market Analysis and Forecast, 2020–2028

10.1.    Introduction

10.1.1.    Annual Growth Rate Comparison, By Country

10.1.2.    BPS Analysis, By Country

10.2.    Market Revenue (US$Mn) and Forecast, By Country

10.2.1.    U.S. Music Streaming Services Market

10.2.2.    Canada Music Streaming Services Market

10.3.    North America Music Streaming Services Market, By Type

10.3.1.    On-demand streaming

10.3.2.    Live streaming 

10.4.    North America Music Streaming Services Market Revenue (US$Mn) and Forecast, By Platform

10.4.1.    Apps  

10.4.2.    Browsers

10.5.    North America Music Streaming Services Market Revenue (US$Mn) and Forecast, By Content Type

10.5.1.    Audio

10.5.2.    Video

10.6.    North America Music Streaming Services Market Revenue (US$Mn) and Forecast, By End-User 

10.6.1.    Individual

10.6.2.    Commercial

10.7.    North America Music Streaming Services Market Attractiveness Index

10.7.1.    By Country

10.7.2.    By Type

10.7.3.    By Platform

10.7.4.    By Content Type

10.7.5.    By End-User 

11.    Latin America Music Streaming Services Market Analysis and Forecast, 2020–2028

11.1.    Introduction

11.1.1.    Annual Growth Rate Comparison, By Country

11.1.2.    BPS Analysis, By Country

11.2.    Market (US$Mn) Forecast, By Country

11.2.1.    Brazil Music Streaming Services Market

11.2.2.    Mexico Music Streaming Services Market

11.2.3.    Rest Of Latin America Music Streaming Services Market

11.3.    Latin America Music Streaming Services Market, By Type

11.3.1.    On-demand streaming

11.3.2.    Live streaming 

11.4.    Latin America Music Streaming Services Market Revenue (US$Mn) and Forecast, By Platform

11.4.1.    Apps  

11.4.2.    Browsers

11.5.    Latin America Music Streaming Services Market Revenue (US$Mn) and Forecast, By Content Type

11.5.1.    Audio

11.5.2.    Video

11.6.    Latin America Music Streaming Services Market Revenue (US$Mn) and Forecast, By End-User 

11.6.1.    Individual

11.6.2.    Commercial

11.7.    Latin America Music Streaming Services Market Attractiveness Index

11.7.1.    By Country

11.7.2.    By Type

11.7.3.    By Platform

11.7.4.    By Content Type

11.7.5.    By End-User 

12.    Europe Music Streaming Services Market Analysis and Forecast, 2020–2028

12.1.    Introduction

12.1.1.    Annual Growth Rate Comparison, By Country

12.1.2.    BPS Analysis, By Country

12.2.    Market (US$Mn) Forecast, By Country

12.2.1.    U.K. Music Streaming Services Market

12.2.2.    Germany Music Streaming Services Market

12.2.3.    Italy Music Streaming Services Market

12.2.4.    France Music Streaming Services Market

12.2.5.    Spain Music Streaming Services Market

12.2.6.    Russia Music Streaming Services Market

12.2.7.    Rest Of Europe Music Streaming Services Market

12.3.    Europe Music Streaming Services Market, By Type

12.3.1.    On-demand streaming

12.3.2.    Live streaming 

12.4.    Europe Music Streaming Services Market Revenue (US$Mn) and Forecast, By Platform

12.4.1.    Apps  

12.4.2.    Browsers

12.5.    Europe Music Streaming Services Market Revenue (US$Mn) and Forecast, By Content Type

12.5.1.    Audio

12.5.2.    Video

12.6.    Europe Music Streaming Services Market Revenue (US$Mn) and Forecast, By End-User 

12.6.1.    Individual

12.6.2.    Commercial

12.7.    Europe Music Streaming Services Market Attractiveness Index

12.7.1.    By Country

12.7.2.    By Type

12.7.3.    By Platform

12.7.4.    By Content Type

12.7.5.    By End-User 

13.    Asia Pacific Music Streaming Services Market Analysis and Forecast, 2020–2028

13.1.    Introduction

13.1.1.    Annual Growth Rate Comparison, By Country

13.1.2.    BPS Analysis, By Country

13.2.    Market (US$Mn) Forecast, By Country

13.2.1.    China Music Streaming Services Market

13.2.2.    India Music Streaming Services Market

13.2.3.    Japan Music Streaming Services Market

13.2.4.    Australia and New Zealand Music Streaming Services Market

13.2.5.    South Korea Music Streaming Services Market

13.2.6.    Rest of Asia Pacific Music Streaming Services Market

13.3.    Asia Pacific Music Streaming Services Market, By Type

13.3.1.    On-demand streaming

13.3.2.    Live streaming 

13.4.    Asia Pacific Music Streaming Services Market Revenue (US$Mn) and Forecast, By Platform

13.4.1.    Apps  

13.4.2.    Browsers

13.5.    Asia Pacific Music Streaming Services Market Revenue (US$Mn) and Forecast, By Content Type

13.5.1.    Audio

13.5.2.    Video

13.6.    Asia Pacific Music Streaming Services Market Revenue (US$Mn) and Forecast, By End-User 

13.6.1.    Individual

13.6.2.    Commercial

13.7.    Asia Pacific Music Streaming Services Market Attractiveness Index

13.7.1.    By Country

13.7.2.    By Type

13.7.3.    By Platform

13.7.4.    By Content Type

13.7.5.    By End-User 

14.    Middle East Music Streaming Services Market Analysis and Forecast, 2020–2028

14.1.    Introduction

14.1.1.    Annual Growth Rate Comparison, By Country

14.1.2.    BPS Analysis, By Country

14.2.    Market (US$Mn) Forecast, By Country

14.2.1.    GCC Countries Music Streaming Services Market

14.2.2.    Israel Music Streaming Services Market

14.2.3.    Rest Of Middle East Music Streaming Services Market

14.3.    Middle East Music Streaming Services Market, By Type

14.3.1.    On-demand streaming

14.3.2.    Live streaming 

14.4.    Middle East Music Streaming Services Market Revenue (US$Mn) and Forecast, By Platform

14.4.1.    Apps  

14.4.2.    Browsers

14.5.    Middle East Music Streaming Services Market Revenue (US$Mn) and Forecast, By Content Type

14.5.1.    Audio

14.5.2.    Video

14.6.    Middle East Music Streaming Services Market Revenue (US$Mn) and Forecast, By End-User 

14.6.1.    Individual

14.6.2.    Commercial

14.7.    Middle East Music Streaming Services Market Attractiveness Index

14.7.1.    By Country

14.7.2.    By Type

14.7.3.    By Platform

14.7.4.    By Content Type

14.7.5.    By End-User 

15.    Africa Music Streaming Services Market Analysis and Forecast, 2020–2028

15.1.    Introduction

15.1.1.    Annual Growth Rate Comparison, By Country

15.1.2.    BPS Analysis, By Country

15.2.    Market (US$Mn) Forecast, By Country

15.2.1.    South Africa Countries Music Streaming Services Market

15.2.2.    Egypt Music Streaming Services Market

15.2.3.    North Africa Music Streaming Services Market

15.2.4.    Rest of Africa Music Streaming Services Market

15.3.    Africa Music Streaming Services Market, By Type

15.3.1.    On-demand streaming

15.3.2.    Live streaming 

15.4.    Africa Music Streaming Services Market Revenue (US$Mn) and Forecast, By Platform

15.4.1.    Apps  

15.4.2.    Browsers

15.5.    Africa Music Streaming Services Market Revenue (US$Mn) and Forecast, By Content Type

15.5.1.    Audio

15.5.2.    Video

15.6.    Africa Music Streaming Services Market Revenue (US$Mn) and Forecast, By End-User 

15.6.1.    Individual

15.6.2.    Commercial

15.7.    Africa Music Streaming Services Market Attractiveness Index

15.7.1.    By Country

15.7.2.    By Type

15.7.3.    By Platform

15.7.4.    By Content Type

15.7.5.    By End-User 

16.    Competitive Landscape

16.1.    Company Profiles

16.1.1.    Spotify AB

16.1.1.1.    Company Overview

16.1.1.2.    Financial Overview

16.1.1.3.    Key Developments

16.1.1.4.    Strategies

16.1.1.5.    Product Analysis

16.1.2.    Apple, Inc.

16.1.3.    Amazon.com, Inc.

16.1.4.    Google LLC

16.1.5.    Deezer

16.1.6.    Pandora Media, Inc.

16.1.7.    Tencent Music Entertainment Group

16.1.8.    SoundCloud Limited

16.1.9.    Tidal

17.    Acronyms