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.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | 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) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Players of Music Streaming Service Market Study:
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)
Music Streaming Service Market Segment Analysis
Scope | Sub-Segments |
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Application / End User | Individual Users and Commercial Users |
Services | Paid Download,Free Non-Interactive Streaming With Ads,Interactive Streaming,Digital Satellite Radio,Interactive Streaming With Tethered Downloads |
Devices | Mobile Phones,Laptops,IPad,Desktops |
Influencing Trend:
Increase Streaming Of Classical Music, Increase in the Maturation of the Market and The rise in Expansion of Streaming
Market Growth Drivers:
High Adoption of Smart Phones, Increase Penetration of Internet and Increasing Number of Music Streaming Websites
Challenges:
Limited Earnings for Artists, Additional Spends On Ads and Limited Digital Reproduction
Restraints:
This Service Required User Information, Which Limits the Users Trusts
Opportunities:
Advances in Smart-Speakers and Voice Controlled Devices, High Growth in Music Industry and Technology Expansion in Recording Industry
Some of the other players that are also part of study are Tencent Music (China), Amazon (United States), Google (United States), Xiaomi (China), Slacker (United States) and Tidal (United States). The Global Music Streaming Service market is gaining huge competition due to involvement of United States companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
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.
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.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Music Streaming Service 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 into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Music Streaming Service market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the 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 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.
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 include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.