0
2021
Online Music Streaming Market

Online Music Streaming Market

by Service (On-demand Streaming and Live Streaming), Revenue Model (Subscription and Non-subscription), Platform (App and Browser), End User (Individual and Commercial), and Content Type (Audio and Video): Global Opportunity Analysis and Industry Forecast, 2021-2027
Update Available On-Demand

Report Code: A11156
Pages: 311
May 2021 | 9199 Views
Author(s) : Aniket Kadam , Roshan Deshmukh
Tables: 192
Charts: 73
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Online Music Streaming Market

Request Now !

The global online music streaming market size was valued at $12,831.2 million in 2019, and is estimated to reach $24,711.3 million by 2027, registering a CAGR of 9.8% from 2021 to 2027. 

Online music streaming is a way of delivering sound or music without the need of downloading files from the internet. Technically, the servers such as Spotify and Pandora send information (raw file) to the individual music streaming devices instantly after compressing the raw file. 

Online-Music-Streaming

The online music streaming has witnessed significant growth in the past few years due to surge in adoption of smart devices such as smartphones and rise in popularity of digital platforms such as Spotify, Amazon Music, and Deezer. Moreover, increase in penetration of internet across the globe is positively impacting the online music streaming market. In addition, online music streaming services allow users to stream online music videos, audio songs, podcasts, and live performances of artists. Online music streaming service providers further offer certain features such as customized playlists, song recommendations, and easy accessibility to music on both the app and browser platforms. Thus, upsurge in popularity of podcasts is attracting consumers’ attention lately, and is expected to further drive the global online music streaming market during the forecast period.

The global online music streaming market is expected to grow at a significant pace due to increase in preference of online music streaming among both consumers and music creators. Furthermore, the introduction of online music streaming platforms such as Spotify, Pandora, Tidal, Apple Music, and Amazon Music has drastically reduced the risk of music piracy activity over the internet. Moreover, various music labels such as Universal Music Publishing Group, Sony Music Entertainment, Warner Music Group, and Island Records are investing heavily in artists and repertoire to establish their significant presence globally. Thus, all these factors are responsible for propelling the growth of the global online music streaming market in the forthcoming years. Furthermore, the emergence of 5G, artificial intelligence, virtual reality, and machine learning are few other factors expected to boost the global online music streaming market growth.

The outbreak of COVID-19 pandemic is further acting as a key driving force of the global online music streaming market. This is attributed to the fact that government imposed stringent lockdown to contain the spread of the virus. Hence, people were forced to stay at home, which, in turn, increased adoption and usage of online music services across the globe. During the first phase of the pandemic, certain behavioral changes prevailed among consumers. According to the Tencent Music Entertainment, music streaming was majorly done using home appliances such as TV more than smartphones during the lockdown. Moreover, upsurge has been witnessed in the number of subscribers on various platforms such as Spotify, Tencent Music Entertainment, and Amazon Music. People in the U.S. were streaming more of video content rather than the audio content. Therefore, the pandemic resulted in an upsurge in the video segment. Hence, the COVID-19 had a positive impact on the growth of the global online music streaming market.

The global online music streaming market is segmented into service, revenue model, platform, end user, content type, and region. On the basis of service, the market is bifurcated into on-demand streaming and live streaming. By revenue model, it is segregated into subscription and non-subscription based model. On the basis of platform, it is segregated into app and browser. Depending on end user, it is fragmented into individual and commercial. As per content type, it is differentiated into audio and video content. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, the Netherlands, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

According to the online music streaming market forecast, on the basis of service, the on-demand streaming segment was the highest contributor to the market, accounting for $9,003.7 million in 2019, and is expected to sustain its significance during the forecast period, due to ease and convenience of streaming music according to the users’ mood and time. Live online music streaming is showing substantial penetration due to increase in presence and activities of popular artists over the internet. 

Online Music Streaming Market
By Service

Your browser does not support the canvas element.

On-demand streaming segment is expected to grow at highest CAGR of 10.1% during the forecast period

Get more information on this report : Request Sample Pages

On the basis of the revenue model, the subscription model dominated the market in 2019, due to immense increase in the number of paid subscribers in the past few years. Moreover, most players in the global online music streaming market operate on the non-subscription or the freemium model majorly to attract huge customer base. Spotify, the leading player in the market, majorly focuses on the subscription model, whereas Pandora, one of the major players that focuses on the freemium model. 

Online Music Streaming Market
By Revenue Model

Your browser does not support the canvas element.

Subscription segment is expected to grow at highest CAGR of 10.1% during the forecast period.

Get more information on this report : Request Sample Pages

Depending on the platform, the app segment led the online music streaming market globally. This is attributed to the fact that app is the most convenient, easy, and popular platform for streaming online music due to the wide penetration of smartphones and internet across the globe. Furthermore, major market players are competing on the browser platform to gain maximum market share. For example, Apple, Inc. announced the launch of Apple Music player for web in 2020. Hence, browser is a lucrative segment for the market players.

Online Music Streaming Market
By Platform

Your browser does not support the canvas element.

App segment is expected to grow at highest CAGR of 10.0% during the forecast period.

Get more information on this report : Request Sample Pages

As per end user, the individual segment exhibited the highest market share of 76.3% in 2019, as the  emergence of online music streaming services has enabled users to access millions of songs easily. In addition, changes in lifestyle of individuals, which comprise listening to music during commuting, daily chores, and exercising, have led to the growth of the individual segment. However, the commercial segment is expected to grow at a promising rate due to the development of commercial complexes, restaurants, gyms, health clubs, and malls. All these commercial spaces use music streaming services to offer a pleasing ambience to their customers.

Online Music Streaming Market
By End-user

Your browser does not support the canvas element.

Individual segment is expected to grow at highest CAGR of 10.0% during the forecast period.

Get more information on this report : Request Sample Pages

By content type, audio was the prominent segment, as users listen to music during daily chores, travelling, jogging, and exercising. In addition, busy and hectic lifestyle of consumers enable them to access audio content easily as compared to that of the video content, thus augmenting the growth of the audio segment. However, the growing popularity of over-the-top (OTT) and short video platforms is boosting the growth of the video segment. 

Online Music Streaming Market
By Content Type

Your browser does not support the canvas element.

Video segment is expected to grow at highest CAGR of 10.1% during the forecast period.

Get more information on this report : Request Sample Pages
​​​​​​​

According to the global online music streaming market analysis, in 2019, North America dominated the market, garnering around 38.1% online music streaming market share, followed by Europe. North America and Europe are characterized by high disposable income and elevated demand & consumption of music, thus making them lucrative markets for online music streaming. However, Asia-Pacific is expected to show promising growth rate due to surge in penetration of internet and increase in adoption of smartphones coupled with rise in the number of netizens. LAMEA is anticipated to exhibit fastest growth due to increase in demand for local and regional songs among consumers.

Online Music Streaming Market
By Regions

2027
North America 
Europe
Asia-pacific
Lamea

LAMEA is expected to grow at highest CAGR of 10.8% during the forecast period.

Get more information on this report : Request Sample Pages

The players operating in the global online music streaming market have adopted various developmental strategies to expand their market share, exploit the online music streaming market opportunities, and increase profitability in the market. The key players profiled in this report include Amazon, Inc., Anghami, Apple, Inc., Deezer, iHeartRadio, NetEase, Inc., Pandora Media, LLC., Spotify AB, Tencent Music Entertainment, and Tidal. 

Benefits For Stakeholders

  • The report provides a quantitative analysis of the current online music streaming market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assist to determine the prevailing online music streaming market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the online music streaming industry.

Key Market Segments

By Service

  • On-demand Streaming
  • Live Streaming

By Revenue Model

  • Subscription
  • Non-subscription

By Platform

  • App
  • Browser

By End User 

  • Individual
  • Commercial

By Content Type

  • Audio
  • Video

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Netherlands
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East 
    • Africa
 

Loading Table Of Content...


 
 

Increase in penetration of 5G, artificial intelligence (AI), and machine learning is expected to positively impact the growth of the global online music streaming market. The 5G technology is expected to provide high speed data – 10 times faster than the 4G. Amazon introduced its new Music HD Service subjected to the arrival of 5G technology. This new service of Amazon will provide lossless audio streaming and downloads to consumers in the UK, the U.S., Germany, and Japan. Advanced personalization on the online music streaming platforms is highly expected by the listeners. The leading players such as Apple Music and Spotify uses AI and machine learning technology for offering advanced personalization to its customers. The AI and machine learning technologies record the listening habits of consumers, and based on their music and genre preferences, provide personalized playlists to listeners. Therefore, leading players are focusing on the consumer oriented strategies by using 5G, AI, and machine learning technologies.

Moreover, the copyright infringement remains the major concern in the online music streaming industry. Copyright infringement refers to the unauthorized use of copyrighted music without the permission, thereby infringing the copyright holder’s right to reproduce, right to distribute, and right to perform. One common example of copyright infringement is the unauthorized use of a copyrighted music/song in a video. In this digital era, the sharing of data through unauthorized networks has become one of the most common activities over the internet. These unauthorized networks are called peer-to-peer (P2P) networks, and some examples of P2P websites include Frostwire, MP3 ripper, and BeeMP3. These P2P networks are constantly finding new ways to work round the legal barriers. The music traded on these P2P networks is not licensed by the record labels and the copyright holders. Hence, record labels suffer losses as they have no chances of earning if the music developed by them is traded on these P2P unauthorized networks. According to the International Federation of the Phonographic Industry (IFPI), around 23% of the respondents that IFPI reached out research purpose, uses illegal stream ripping services and it is one of the leading form of music piracy. This is hindering the growth of the global online music streaming market.

 

 

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. The global online music streaming market size was valued at $12,831.2 million in 2019, and is estimated to reach $24,711.3 million by 2027, registering a CAGR of 9.8% from 2021 to 2027. The growing popularity of online music streaming services is expected to boost the market during the forecast period.

A. The forecast period in the global online music streaming market is 2021 to 2027 and the base year is considered to be 2019. The global online music streaming market size was valued at $12,831.2 million in 2019, and is estimated to reach $24,711.3 million by 2027, registering a CAGR of 9.8% from 2021 to 2027.

A. The base year is considered to be 2019. The forecast period in the global online music streaming market is 2021 to 2027. The global online music streaming market size was valued at $12,831.2 million in 2019, and is estimated to reach $24,711.3 million by 2027, registering a CAGR of 9.8% from 2021 to 2027.

A. The players operating in the global online music streaming market have adopted various developmental strategies to expand their market share, exploit the online music streaming market opportunities, and increase profitability in the market. The key players profiled in this report include Amazon, Inc., Anghami, Apple, Inc., Deezer, iHeartRadio, NetEase, Inc., Pandora Media, LLC., Spotify AB, Tencent Music Entertainment, and Tidal.

A. The leading market players profiled in the global online music streaming report include Amazon, Inc., Anghami, Apple, Inc., Deezer, iHeartRadio, NetEase, Inc., Pandora Media, LLC., Spotify AB, Tencent Music Entertainment, and Tidal.

A. The development of artificial intelligence, machine learning, and 5G technologies are the factors that are expected to fuel the online music streaming market. Moreover, the massive investment by the record labels will boost the market growth in the next few years in the global online music streaming market.

A. The growing adoption of online music streaming services, wide scale penetration of internet, growing number of smartphone users, rising disposable income, ceaseless love for music among the global population are the driving factors. Major restraint of the market include the piracy and threat of database security breach. The introduction of 5G and artificial intelligence will offer new opportunities to the players.

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS
 

HAVE QUESTIONS?
SPEAK WITH ANALYST

 

DID YOU MISS ANYTHING?
DO YOU HAVE SPECIFIC REQUIREMENTS?

 

Download Free Sample

OR

Purchase Full Report of
Online Music Streaming Market

Start reading instantly.
This Report and over 18,777+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,712
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (May 2022 - May 2023)
  • Data Pack
  • $4,125
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (May 2022 - May 2023)
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (May 2022 - May 2023)
  • Five Users
  • $6,929
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (May 2022 - May 2023)
  • Enterprise
    License/PDF

  • $10,663
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (May 2022 - May 2023)
  • Library
    Membership

  • $ 999
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers