Global Music Streaming Service Market Overview:
Music Streaming Services are a method for consumers to listen to music. This service offers consumers unlimited access to a large inventory of music. These services store the music in a server that customers can connect via devices such as smartphones or laptops. On many services, users can store music locally by making it available offline. The streaming services of music and video is growing consistently from the last decade. Major players are taking strategic initiatives to increase their market shares such as one of the most popular music apps in Europe and the Americas, Spotify recently added 13 countries in the Middle East and North Africa to enhance its global footprints. Some of the key players profiled in the study are YouTube (United States), NetEase (China), SoundCloud (Sweden), Spotify (Sweden), iHeartRADIO (United States), Pandora (United States), Gaana (India), Apple Music (United States), Anghami (Lebanon) and Deezer (France).
On the basis of geography, the market of Music Streaming Service has been segmented into 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). If we see Market by Services, the sub-segment i.e. Paid Download will boost the Music Streaming Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Devices, the sub-segment i.e. Mobile Phones will boost the Music Streaming Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- High Adoption of Smart Phones
- Increase Penetration of Internet
- Increasing Number of Music Streaming Websites
- Increase Streaming Of Classical Music
- Increase in the Maturation of the Market
- The rise in Expansion of Streaming
- This Service Required User Information, Which Limits the Users Trusts
- Advances in Smart-Speakers and Voice Controlled Devices
- High Growth in Music Industry
- Technology Expansion in Recording Industry
- Limited Earnings for Artists
- Additional Spends On Ads
- Limited Digital Reproduction
Major Market Developments:
In Jan 2019, Modern media Acquisition (MMDM) announced a merger agreement with Akazoo ltd., which valued around USD 469 million. The intention behind this merger MMDM to list on the Nasdaq Stock market under the symbol of SONG.
In Mar 2019, YouTube announced to launch new music streaming YouTube Music application in India. YouTube offers official songs, albums, and thousands of playlists and artist radio plus remixes, live performances and others. Additionally, in Nov 2018, Amazon announced the launch of Amazon Music in Mexico, which brings millions of songs on real-time streaming for users.
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Music Streaming Service Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Music Streaming Service market on the basis of product  , application [Individual Users and Commercial Users], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Music Streaming Service market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Music Streaming Service industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Tencent Music (China), Amazon (United States), Google (United States), Xiaomi (China), Slacker (United States) and Tidal (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Music Streaming Service market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.