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
Frequently Asked Questions
What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
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
What are the key factors driving the growth of market?
The extensive penetration of the smartphones and internet among the consumers and increasing awareness regarding the advancements in the technology and the emerging digital platforms available for live streaming of music from a legitimate source are the key factors driving the growth of market
What segments are covered in market report?
The global music streaming services market is segmented on the basis of type, platform, content type, end-user and regions
What are the key participating players in the market?
Spotify AB, Apple, Inc., Amazon.com, Inc., Google LLC, Deezer, Pandora Media, Inc., Tencent Music Entertainment Group, SoundCloud Limited, Tidal, among others are the key participating players in the market
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