PUBLISHER: Azoth Analytics | PRODUCT CODE: 1267657
PUBLISHER: Azoth Analytics | PRODUCT CODE: 1267657
Azoth Analytics has released a research report titled "Global Music Subscription Market (2023 Edition)" which provides a complete analysis of the Music Subscription service industry in terms of market segmentation by Service Type (On Demand, Live), Platform (Applications, Web) and by End User (Individual, Commercial).
The research also looks at the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution.
During the forecast period, 2023-2028, the Global Online Music Subscription Market is expected to expand at a CAGR of 14.94%. The increasing network connectivity, as well as the growing urbanization, are driving the market's growth.
The Music Subscription Market is expected to generate USD 73.57 billion by the end of 2028, up from USD 28.2 billion in 2021. A favourable growth element for the global online music subscription market is the increasing internet connectivity and availability of smart devices across the world. The emergence of high-speed internet and mobile devices has made it easier for consumers to access music content from anywhere at any time. In turn, this has driven the demand for online music subscription services, which provide users with access to a vast library of music, personalized playlists, and algorithm-driven recommendations.
The market is dominated by a few major players such as Spotify, Apple Music, Amazon Music, Tidal, and YouTube Music, which offer a range of services to suit different user needs. These services have differentiated themselves by offering unique features such as personalized playlists, algorithm-driven recommendations, and exclusive content from artists. The competition is fierce, and companies must constantly innovate and improve their offerings to attract and retain customers. The research covers a detailed analysis of the Americas, Europe, APAC, Middle East, and Africa (United States, Canada, Brazil, United Kingdom, Germany, France, Italy, China, Japan, and India). Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
To stay competitive, companies are increasingly focusing on developing new features and services that enhance the user experience. For example, Spotify has recently launched a feature that allows users to listen to music together remotely. Apple Music has also launched a range of original programming, including documentaries and music videos.
Value-added services have a significant impact on the online music subscription market. These services are designed to provide additional benefits to subscribers beyond basic music streaming services, and can help to differentiate one music streaming service from another. One of the main impacts of value-added services on the online music subscription market is the ability to increase customer retention. By offering additional features and benefits, music streaming services can provide a more compelling reason for subscribers to continue paying for their subscriptions. This can lead to a reduction in subscriber churn and an increase in the lifetime value of a customer.
Another impact of value-added services on the online music subscription market is the ability to attract new customers. By offering unique and exclusive content, such as live concerts or pre-release album streams, music streaming services can generate buzz and attract new subscribers. This can help to differentiate a music streaming service from its competitors and build a loyal customer base. Value-added services can also help to increase revenue for music streaming services. By offering premium features, such as higher-quality audio, offline listening, or personalized recommendations, music streaming services can charge a higher subscription fee. This can help to increase the average revenue per user (ARPU) and generate more revenue for the service.
Moreover, value-added services can help to enhance the overall user experience of a music streaming service. By offering additional features and benefits, music streaming services can provide a more personalized and engaging experience for their users. This can help to increase user satisfaction and build a positive brand image.
List of Tables
Table A1: Global Impact of Macro Economic Factors, By Region
Table A2: United States Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A3: United States Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A4: United States Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A5: United States Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A6: United States Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A7: United States Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A8: Canada Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A9: Canada Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A10: Canada Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A11: Canada Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A12: Canada Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A13: Canada Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A14: Brazil Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A15: Brazil Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A16: Brazil Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A17: Brazil Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A18: Brazil Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A19: Brazil Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A20: Rest of Americas Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A21: Rest of Americas Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A22: Rest of Americas Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A23: Rest of Americas Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A24: Rest of Americas Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A25: Rest of Americas Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A26: United Kingdom Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A27: United Kingdom Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A28: United Kingdom Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A29: United Kingdom Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A30: United Kingdom Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A31: United Kingdom Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A32: Germany Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A33: Germany Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A34: Germany Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A35: Germany Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A36: Germany Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A37: Germany Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A38: France Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A39: France Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A40: France Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A41: France Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A42: France Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A43: France Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A44: Rest of Europe Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A45: Rest of Europe Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A46: Rest of Europe Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A47: Rest of Europe Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A48: Rest of Europe Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A49: Rest of Europe Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A50: China Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A51: China Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A52: China Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A53: China Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A54: China Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A55: China Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A56: India Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A57: India Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A58: India Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A59: India Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A60: India Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A61: India Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A62: Japan Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A63: Japan Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A64: Japan Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A65: Japan Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A66: Japan Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A67: Japan Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A68: South Korea Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A69: South Korea Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A70: South Korea Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A71: South Korea Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A72: South Korea Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A73: South Korea Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A74: Rest of APAC Music Subscription Market, By Service, By Value, 2018-2021 (USD Million)
Table A75: Rest of APAC Music Subscription Market, By Service, By Value, 2022-2028 (USD Million)
Table A76: Rest of APAC Music Subscription Market, By Platform, By Value, 2018-2021 (USD Million)
Table A77: Rest of APAC Music Subscription Market, By Platform, By Value, 2022-2028 (USD Million)
Table A78: Rest of APAC Music Subscription Market, By End User, By Value, 2018-2021 (USD Million)
Table A79: Rest of APAC Music Subscription Market, By End User, By Value, 2022-2028 (USD Million)
Table A80: Spotify Key Company Financials, 2020-2022
Table A81: Apple Key Company Financials, 2020-2022
Table A82: Amazon Key Company Financials, 2020-2022
Table A83: Alphabet Key Company Financials, 2020-2022
Table A84: Tencent Music Key Company Financials, 2019-2021
Table A85: Deezer Key Company Financials, 2021-2022
Table A86: Sirius Key Company Financials, 2020-2022
Table A87: Block Key Company Financials, 2020-2022
Table A88: NetEase Key Company Financials, 2019-2021