DUBLIN--(BUSINESS WIRE)--The "Europe Music Streaming Market Forecast to 2027 - COVID-19 Impact and Analysis by Content Type (Audio Streaming, Video Streaming), Streaming Type (Live Streaming, On-demand Streaming), End User (Commercial, Individual), and Country" report has been added to ResearchAndMarkets.com's offering.
The music streaming market in Europe was valued at US$ 6,260.2 Million in 2019 and is projected to reach US$ 9,812.3 Million by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027. Amazon.com, Inc; Google LLC; Deezer, and Apple, Inc are among a few players operating in the market in this region.
The digital music service providers are offering consumer listening experience throughout phones, tablets, computers, and smart devices. The availability and popularity of in-vehicle infotainment systems in cars and smart speakers in homes serve as a major opportunity for the music streaming providers to expand their businesses. A few of the prominent on-demand music streaming platforms are Google Play Music, Spotify, Apple Music, Sound Cloud, and Amazon Prime Music.
Companies such as Spotify and Amazon utilize ad-supported services to market their products. The major market players are adopting various strategies to gain more subscribers. Moreover, Amazon Prime Music includes prime subscriptions, which is helping it in increasing its customer base. At present, the on-demand streaming is one of the most preferred services, as they use network infrastructure and on-demand audio streaming software to stream media files. The music subscription revenue of MIDiA Research grew to 63% in 2017. Owing to exploration in on-demand streaming, there is significant increase in the number of subscribers.
Factors such as demand for multiple digital music platforms and rising number of music subscribers drive the growth of music streaming market in Europe. Additionally, consistent increase in on-demand streaming services and availability of regional content on digital platforms would further help the market to grow in the coming years.
On the contrary, reduction in the number of subscribers due to the availability of pirated channels and free music platforms hinders the music streaming market growth in Europe. Further, many music streaming service providers offer an unpaid trial period to gain attention of more consumers. They also arrange for timely updates and advancements in the digital music platforms to remain competitive in the market. For instance, Amazon provides high-quality tier, known as Amazon Music HD, in a bid for the Tidal's audiophile niche quality sound.
Key Topics Covered
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Music Streaming Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
5. Music Streaming Market - Key Market Dynamics
5.1 Key Market Driver
5.1.1 Rising Demand for Digital Music Streaming Websites
5.2 Key Market Restraints
5.2.1 Accessibility of Free Digital Music Platforms
5.3 Key Market Opportunities
5.3.1 Rise in On-Demand Streaming
5.4 Future Trends
5.4.1 Growing Penetration of Online Music Streaming
5.5 Impact Analysis of Drivers and Restraints
6. Music Streaming Market - Europe Analysis
6.1 Europe Music Streaming Market Overview
6.1.1 Europe: Music Streaming Market - Revenue and Forecast to 2027 (US$ Million)
6.2 Market Positioning - Five Key Players
7. Music Streaming Market Analysis - By Content Type
7.1 Overview
7.2 Audio Streaming
7.3 Video Streaming
8. Music Streaming Market Analysis - By Streaming Type
8.1 Overview
8.2 Music Streaming Market Breakdown, by Streaming Type, 2019 & 2027
8.3 Live Streaming
8.4 On-Demand Streaming
9. Music Streaming Market Analysis - By End-user
9.1 Overview
9.2 Music Streaming Market Breakdown, by Streaming Type, 2019 & 2027
9.3 Commercial
9.4 Individual
10. Music Streaming Market Revenue and Forecast to 2027 - Country Analysis
11. Music Streaming Market - COVID-19 Impact Analysis
12. Industry Landscape
12.1 Market Initiatives
13. Company Profiles
13.1 Amazon.com, Inc.
13.2 Google LLC
13.3 Deezer
13.4 Apple, Inc.
13.5 SoundCloud
13.6 Spotify Technology SA
For more information about this report visit https://www.researchandmarkets.com/r/fjt9ar
