Music Streaming is a way of delivering sound. Personalization is a pivotal element of music streaming services. The market delivers, manages and tracks the distribution of music on a global scale. Ease of accessibility helps in creating music hits around the world and has driven artist development across the territories. Further, affluent availability of rare and dormant music as and when demanded is acting as a catalyst for the growth of music streaming market. During the next six years, the demand for music streaming would increase at a CAGR of around 17.9%, thereby, positively impacting the demand for music streaming. Advanced technology on the back-end is enhancing consumer experience and is significantly driving the industry. Evolution of voice recognition technologies is making music streaming a mass market proposition.
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Some of the Most Prominent Key Players:
Pandora Media Inc., Project Panther Bidco Ltd., Spotify AB, Stingray Digital Group Inc., NetEase, Inc., Reliance Industries Limited, Gamma Gaana Limited, iHeartMedia, Inc., TuneIn, Inc. Apple Inc., Amazon.com, Inc., Deezer, Inmusik, Jango, Slacker Radio, Inc., SoundCloud, Univision Communications Inc., VK, Google LLC, You42, Inc.
Music Streaming Services: A Technological Push to Music Industry:
- Increasing penetration of smartphone and availability of internet has created a buzz for music streaming
- Amalgamation of virtual reality with music streaming has enriched the experience of the listeners
- Incorporating audio recognition in smart wearable devices is revolutionizing the industry.
“During the next six years, more than three fourth of the revenue for music industry will be generated by music streaming. The subscription and ad supported segment is expected to register high CAGR in the global music streaming market. U.S. is the highest contributor to global music streaming market. Furthermore, Asia Pacific will witness a fastest growth in music streaming market in the forecast period. The rising preference of on-demand streaming over radio in the U.S. is contributing to its high share in the global market.”
The detailed research study provides qualitative and quantitative analysis of the global music streaming market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
Global Music Streaming Market Revenue (US$ Million), 2018
Global music streaming market
By Content Type
By Payment Mode
Subscription and Ad Supported
By Age Group
16 Years -24 Years
25 Years -34 Years
35 Years -44 Years
45 years -54 years
Above 55 years
By End User
Market segment by Regions/Countries, this report covers
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