Music Mobile Application is one of the major apps that is trending over the android store as well as ios store. With the rising interest of people of hearing music online is one the factor which attracts the human population to make these apps trending across the globe. Of late, people are using apps like Spotify, as one of the android-based application. The key developers of these applications are providing innovative technology to these apps so that the application can become user-friendly and does not consume much data. According to Statista, the leading music and android apps in Google Play Store worldwide in November 2019 were ranked by the total revenue and recently the Pandora Radio was ranked first in the list with the total revenue worth of 13.2 million USD. Hence, the key players have a huge opportunity to invest in this industry, owing to the fact that the music industry is rising day by day.
- Rising Interest of People Towards Listening Music
- Cumulating Integration of Analytics in the Music Industry
- Cloud application has made a revolution in the music industry and the way digital music is being consumed and heard. Owing to the fact of its growing penetration and coverage, mobile-based applications over the phone has mostly become the device of choice for enabling cloud-based music services. In terms of observation, it is seen that the total streaming revenues grew by 41.1%.
- Concern Related to the Device Storing Capacity
- Lack of Ownership in this Application
Increasing penetration of smartphones and tablets drives the opportunity in the market. Nowadays companies are entering into strategic partnerships with mobile manufacturers to expand their business. For instance, Spotify in partnership with Samsung made its own app for the smartphone maker's official music service provider across devices.
Players Covered in the Study are:
Apple Music (United States), Google Play Music (United States), Pandora (United States), YouTube Music, Spotify (Sweden), Amazon Music (United States), Soundcloud (Germany), TuneIn Radio (United States) and Audiomack (United States)
The Global Music Mobile Apps market is gaining huge competition due to involvement of North America companies that constantly invest in research & development to meet market expectation with new innovation.
in 2018, Apple acquired Shazam, one of the most popular music apps, used by hundreds of millions of people worldwide. The company also announced that the app will become ad-free for all users, even for those on Android.
List of players that can be included in the study on immediate basis are Aspiro AB (Norway), Netease Cloud Music (China) and Rhapsody International, Inc. (United States).