Market Highlights: Online Music Systems are multimedia playback software as well as applications which offers music on the go through online portals. Growing internet penetration and digitalization has revolutionized online music platforms as they come up with various offerings through these platforms. These platform offers online music streaming, downloading, sharing and connecting with friends features. This software enables all the songs fed by the service provider independent of the local data storage. The market study is being classified by Type (Rechargeable and Free), by Application (Car, Web, Mobile and TV) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Key Players: The prominent players in the Online Music are Spotify (Sweden), Apple (United States), Alibaba (China), Joox (Tecent) (Hong Kong), Baidu (China), Kugou (China), Amazon Prime (United States), Deezer (France), GooglePlay (United States), Pandora (United States), 163Music (China) and IHeartRadio (United States).
In March 2018, when the global online music software provider Spotify has been launched in Africa, they wanted to get involved in the local population. Thus, the company has started showing advertisements to make an impact on the company’s brand image. Moreover, on December 26, 2018, the company has partnered with Little Green Number, a Johannesburg-based business that recycles leftover or decommissioned billboard material into handmade, one-of-a-kind bags that are sold and donated as part of the organization’s local outreach. Thus, Little Green Number has used donated billboard materials to provide more than 300 free school bags to local students in the province of Gauteng, one of the poorest communities in the country. That has led to improve Spotify’s brand image across the globe.
Key Questions Answered in the Report What will the Online Music Market size and the growth rate be in Future? What are the key factors driving the Online Music Market? What are the key market trends and macro-economic impacting the growth of the Online Music Market? What are the challenges to market growth? Who are the key vendors in the Online Music Market? What are the market opportunities and threats faced by the vendors in the Online Music Market? Trending factors influencing the market shares of the Players. What are the key outcomes of the five forces analysis of the Online Music Market?
Research Methodology: The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online Music market. In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Online Music market. In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc. Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Online Music Software or Service Providers, Online Music Platform Distributors/Traders/Wholesalers, Industry Associations, Downstream Vendors for Online Music Services, Government Agencies and Others. This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc. Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.