Music Streaming Market, By Service (On-demand Streaming, Live Streaming), By Content (Audio, Video), By End-user (Individual, Commercial), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Description

Global Music Streaming Market is estimated to be valued at USD 40.12 Bn in 2024 and is expected to reach USD 121.43 Bn by 2031, growing at a compound annual growth rate (CAGR) of 17.1% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 40.12 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	17.10%	2031 Value Projection:	US$ 121.43 Bn

Figure. Music Streaming Market Share (%), By Region 2024

The global music streaming market has witnessed tremendous growth over the past few years. Factors such as increasing consumer preference for on-demand streaming services over physical media, high-speed internet penetration, and availability of wider music catalogue have boosted the growth of this market. Music streaming allows users to listen to a variety of songs online without actually storing the music files on the local device. Various streaming platforms provide subscription services ranging from free ad-supported to premium ad-free options. With growing smartphone and smart device usage, music streaming apps have become widely popular among millennials and Gen Z users. The emergence of innovative technologies like AI and machine learning is further expected to enhance music discovery and personalized music recommendation, thereby expanding the customer base of music streaming platforms.

Market Dynamics:

The key drivers fueling the music streaming market include growing preference of young demographics for digital music consumption, availability of low-cost data plans and smartphones, and constant innovation introduced by music streaming players. However, factors such as piracy concerns, lack of internet penetration in rural areas, and increasing market dominance of top players pose challenges for market growth. On the upside, monetization of audio advertising, expansion into emerging economies, integration of live streaming features, and bundling of music streaming with other OTT platforms present lucrative opportunities for market players. Moreover, paradigm shift towards subscription-based models and convergence of music and video streaming is expected to reshape the competitive dynamics in the coming years.

Key features of the study:

This report provides in-depth analysis of the global music streaming market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year.

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.

It profiles key players in the global music streaming market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.

Key companies covered as a part of this study include Spotify AB, Apple, Inc., Amazon.com, Inc., Google LLC, Deezer SA, Pandora Media, Inc., Tencent Music Entertainment Group, Tidal, SoundCloud Global Limited & Co. KG, iHeartMedia, Inc.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.

The global music streaming market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global music streaming market.

Market Segmentation

Service Insights (Revenue, USD Bn, 2019 - 2031)
- On-demand Streaming
- Live Streaming
Content Insights (Revenue, USD Bn, 2019 - 2031)
- Audio
- Video
End-user Insights (Revenue, USD Bn, 2019 - 2031)
- Individual
- Commercial
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Spotify AB
- Apple, Inc.
- com, Inc.
- Google LLC
- Deezer SA
- Pandora Media, Inc.
- Tencent Music Entertainment Group
- Tidal
- SoundCloud Global Limited & Co. KG
- iHeartMedia, Inc.

Product Code: CMI7613

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Music Streaming Market, By Service
- Music Streaming Market, By Content
- Music Streaming Market, By End-user
- Music Streaming Market, By Region

3. Market Dynamics, Regulations, And Trends Analysis

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario
Industry Trends

4. Music Streaming Market, By Service, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
On-demand Streaming
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Live Streaming
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

5. Music Streaming Market, By Content, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Audio
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Video
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

6. Music Streaming Market, By End-user, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Individual
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

7. Music Streaming Market, By Region, 2019 - 2031, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2019 - 2031, Value (USD Bn)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Content, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Content, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Content, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Content, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Content, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Content, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Spotify AB
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Apple, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Amazon.com, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Google LLC
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Deezer SA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Pandora Media, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Tencent Music Entertainment Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Tidal
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
SoundCloud Global Limited & Co. KG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
iHeartMedia, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. References and Research Methodology

References
Research Methodology
About us