Music Streaming Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032
The global Music Streaming market size was estimated to be US$ 15.5 billion in 2019 and the expected CAGR through 2030 is 4.5%.
Rising number of service providers, proliferation of internet services, shifting preference towards online music streaming, and focused efforts towards development of exclusive content are the key attributes driving the growth of the global music streaming market. The number of media and entertainment service providers has increased significantly over past couple of years. The content developers are focusing on expanding their reach through appropriate utilization of internet services.
Consumers are shifting towards online music streaming over other formats such as digital downloads and physical music libraries, encouraging content developers to opt for digital content delivery or online music streaming platforms. To gain competitive advantage in the dynamically changing market, the music streaming service providers are focusing on development of exclusive content, audio and video, to attract the potential paid subscribers.
The music streaming market is primarily dominated by global giants such as Spotify, Apple Inc., and Amazon.com Inc. However, regional players are witnessing prominent growth owing to availability of abundant regional content and preference from regional subscribers.
For instance, Spotify dominates the global music streaming market with highest number of paid subscribers and revenue generation, however, regional players such as Gaana.com is popular in the Indian market. Expanding reach of internet services and rising penetration of smartphones across the emerging economies is expected to drive the growth of the global music streaming market during the forecast period.
Asia Pacific contributed a prominent share to the global market in 2019 and is anticipated to be the most lucrative geography during the forecast period. The major attributes towards the robust growth are expected to be the expanding internet infrastructure, increased number of smartphone users, proliferation of regional music streaming platforms and active participation of global music streaming service providers across emerging countries.
North America contributed a dominating share to the global music streaming market in 2019 owing to the shifting preference towards live music streaming over physical libraries and digital downloads. Expanding paid subscriber base across the United States and Canada contributed towards the growth of the North America music streaming market.
Music Streaming Market Share Analysis, by Geography (2022)
To know more Information about this report, Request a Sample
The report titled “Music Streaming Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is the historic period, 2022 is the base year, and 2023 to 2032 is the forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global music streaming market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global music streaming market is segmented based on revenue model, content type, end user, and geography. Based on revenue model, the global music streaming market is segmented into paid subscriptions, ad-supported, digital & customized radio, and others. Based on content type, the global music streaming market is segmented into audio and video. Based on end user, the global music streaming market is segmented into individual and corporate. Based on geography, the global music streaming market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on music streaming tools and services.
Further, market share of prominent companies in the global music streaming market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the music streaming companies. The global music streaming market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution.
Product portfolio would focus on all the products under the music streaming business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global music streaming market.
Major players active in the global music streaming market include Amazon.com Inc., Apple Inc., Gamma Gaana Ltd., Google LLC, iHeartMedia, Inc., NetEase, Inc., Pandora Media, Inc., Project Panther Bidco Ltd., Reliance Industries Limited, Spotify AB, Stingray Group Inc., Tencent Music Entertainment Group, TuneIn, Inc., and Yandex.
Music Streaming Market Segmentation:
Based On Revenue Model
- Paid Subscriptions
- Ad-supported
- Digital & Customized Radio
- Others
Based On Content Type
- Audio
- Video
Based On End User
- Individual
- Corporate
Based On Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
- Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
- Market Synopsis: Global Music Streaming Market
- Global Music Streaming Market Qualitative Analysis
- Ecosystem Analysis
- Role of participants
- Integration scenario
- Trends
- Market trends
- Technology Trends
- PESTLE Analysis (For 5 prominent countries)
- Market Influencers
- Driving Forces
- Hindering Forces
- Opportunities
- Technology evolution
- Podcast – Emerging offering
- Buyer Preference
- Factors influencing buying decision
- Music genre
- Price
- Loyalty
- COVID -19 : Surge in volume of subcriptions
- Factors influencing buying decision
- Ecosystem Analysis
- Global Music Streaming Market Analysis and Forecast, by Revenue Model
- Overview and definitions
- Key segment analysis
- Global Music Streaming Market Estimates (US$ Mn), by Revenue Model, 2019 – 2032
- Paid subscriptions
- Ad-supported
- Digital & customized radio
- Others
- Global Music Streaming Market Analysis and Forecast, by Content Type
- Overview and definitions
- Key segment analysis
- Global Music Streaming Market Estimates (US$ Mn), by Content Type, 2019 – 2032
- Audio
- Video
- Global Music Streaming Market Analysis and Forecast, by End User
- Overview and definitions
- Key segment analysis
- Global Music Streaming Market Estimates (US$ Mn), by End User, 2019 – 2032
- Individual
- Corporate
- Global Music Streaming Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Music Streaming Market Estimates (US$ Mn), by Region, 2019 – 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- Global Paid Music Subscriptions Volume, by Region, 2015 – 2019
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Music Streaming Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Music Streaming Market Estimates (US$ Mn), by Revenue Model, 2019 – 2032
- Paid subscriptions
- Ad-supported
- Digital & customized radio
- Others
- North America Music Streaming Market Estimates (US$ Mn), by Content Type, 2019 – 2032
- Audio
- Video
- North America Music Streaming Market Estimates (US$ Mn), by End User, 2019 – 2032
- Individual
- Corporate
- North America Music Streaming Market Estimates (US$ Mn), Country, 2019 – 2032
- The U.S.
- Canada
- Rest of North America
- Europe Music Streaming Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Music Streaming Market Estimates (US$ Mn), by Revenue Model, 2019 – 2032
- Paid subscriptions
- Ad-supported
- Digital & customized radio
- Others
- Europe Music Streaming Market Estimates (US$ Mn), by Content Type, 2019 – 2032
- Audio
- Video
- Europe Music Streaming Market Estimates (US$ Mn), by End User, 2019 – 2032
- Individual
- Corporate
- Europe Music Streaming Market Estimates (US$ Mn), Country, 2019 – 2032
- Germany
- United Kingdom
- Italy France
- The Netherlands
- Spain
- Rest of Europe
- Asia Pacific Music Streaming Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Music Streaming Market Estimates (US$ Mn), by Revenue Model, 2019 – 2032
- Paid subscriptions
- Ad-supported
- Digital & customized radio
- Others
- Asia Pacific Music Streaming Market Estimates (US$ Mn), by Content Type, 2019 – 2032
- Audio
- Video
- Asia Pacific Music Streaming Market Estimates (US$ Mn), by End User, 2019 – 2032
- Individual
- Corporate
- Asia Pacific Music Streaming Market Estimates (US$ Mn), Country, 2019 – 2032
- Japan
- India
- China
- South Korea
- Australia
- Rest of Asia Pacific
- Middle East & Africa Music Streaming Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Music Streaming Market Estimates (US$ Mn), by Revenue Model, 2019 – 2032
- Paid subscriptions
- Ad-supported
- Digital & customized radio
- Others
- Middle East & Africa Music Streaming Market Estimates (US$ Mn), by Content Type, 2019 – 2032
- Audio
- Video
- Middle East & Africa Music Streaming Market Estimates (US$ Mn), by End User, 2019 – 2032
- Individual
- Corporate
- Middle East & Africa Music Streaming Market Estimates (US$ Mn), Country, 2019 – 2032
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East
- South America Music Streaming Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Music Streaming Market Estimates (US$ Mn), by Revenue Model, 2019 – 2032
- Paid subscriptions
- Ad-supported
- Digital & customized radio
- Others
- South America Music Streaming Market Estimates (US$ Mn), by Content Type, 2019 – 2032
- Audio
- Video
- South America Music Streaming Market Estimates (US$ Mn), by End User, 2019 – 2032
- Individual
- Corporate
- South America Music Streaming Market Estimates (US$ Mn), Country, 2019 – 2032
- Brazil
- Rest of South America
- Competition Analysis – Music Streaming Market
- Market Composition
- Market Share Analysis, by Brand (%) (2022)
- Company Profiles
- com Inc.
- Business overview
- Geographic presence
- Offerings portfolio
- Subscription Growth
- New Launch
- Apple Inc.
- Gamma Gaana Ltd.
- Google LLC
- iHeartMedia, Inc.
- NetEase, Inc.
- Pandora Media, Inc.
- Project Panther Bidco Ltd.
- Reliance Industries Limited
- Spotify AB
- Stingray Group Inc.
- Tencent Music Entertainment Group
- TuneIn, Inc.
- Yandex
- com Inc.
- Conclusion & Recommendations
Frequently asked questions about this report
How big is the Music Streaming Market?
The global Music Streaming market was worth US$ 15.5 billion in 2019.
What is the estimated growth rate of Music Streaming Market?
The global Music Streaming market is expected to register a CAGR of 4.5% by 2030.
What are the prominent Music Streaming market players across the globe?
Major players operating in the global Music Streaming market include Amazon.com Inc., Apple Inc., Gamma Gaana Ltd., Google LLC, iHeartMedia, Inc., NetEase, Inc., Pandora Media.
Which region is contributing significantly to the global Music Streaming Market?
Asia Pacific is the principal contributor to the global Music Streaming market.
What are the growth prospects of Music Streaming Market?
The music streaming market is primarily dominated by global giants such as Spotify, Apple Inc., and Amazon.com Inc. However, regional players are witnessing prominent growth owing to availability of abundant regional content and preference from regional subscribers.