About Music Streaming Service
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 |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
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. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Music Streaming Service market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Tencent Music (China), Amazon (United States), Google (United States), Xiaomi (China), Slacker (United States) and Tidal (United States).
Segmentation Overview
AMA Research has segmented the market of Global Music Streaming Service market by , Application (Individual Users and Commercial Users) and Region.
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.
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
Market Leaders and their expansionary development strategies
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.
Analyst View
Music streaming has offered the music industry and its artists a new method of sharing and distributing music to consumers across the world.
Key Target Audience
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
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.