DUBLIN--(BUSINESS WIRE)--The "Global Music Streaming Market By Content Type (Audio and Video), By Platform (Apps and Browsers), By Service Type (On-demand Streaming and Live Streaming), By End User (Individual and Commercial) By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Music Streaming Market size is expected to reach $60.5 billion by 2026, rising at a market growth of 16% CAGR during the forecast period.
The transmission of music in a compressed state by utilizing the internet is termed Music streaming. It can be recovered and played, according to the user's time and convenience without downloading it manually. The music streaming services do not occupy any space in the storage device. It also offers a person to access millions of songs as per their choice. There is a rising graph of internet users and increasing usage of smartphones and laptops in the world that are contributing to the growth of the market during the forecast period. Additionally, the rising digitization and customer preference to adopt advanced consumer electronic products are some of the major reasons that will fuel the market during the forecast period.
Furthermore, the availability of unique and dormant music according to the user's time and mood is another reason to fuel the growth of the market during the forecast period. Moreover, some technological development like growth in voice recognition technology to improve consumer experience is another reason behind the growing market of streaming music during the forecast period. Although, growing piracy in the world is acting as a restraint of the market. Additionally, low profit, expenditure on the licensing process, and high competition are some of the major factors that restrict the growth of the market during the forecast period.
Almost every country has been affected by the spread of the COVID-19 virus and declared a lockdown in their country. This pandemic resulted in an increasing number of users, who are engaged in live streaming through platforms like Instagram and YouTube. According to Tencent Music Entertainment, the revenue from online music subscriptions is increased by 70% in the first quarter of the year 2020. In addition, online music paying users have increased to 42.7 million with a year-over-year increase of 50%. Furthermore, the increasing popularity of live streaming and the accessibility of the users to local content on such online platforms are also contributing to the growth of the market.
Companies Profiled
- Amazon.com, Inc.
- Apple, Inc.
- Google, Inc.
- Tencent Music Entertainment Group (Tencent Holdings Ltd.)
- Spotify Technologies S.A.
- SoundCloud Ltd.
- Sirius XM Holdings, Inc. (Pandora Media, Inc.)
- iHeartMedia, Inc. (Thomas H. Lee Partners)
- Deezer S.A. (Access Industries Holdings LLC)
- Aspiro AB (Tidal)
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2016, Jan - 2020, Dec) Leading Players
Chapter 4. Global Music Streaming Market by Content Type
4.1 Global Music Streaming Audio Market by Region
4.2 Global Music Streaming Video Market by Region
Chapter 5. Global Music Streaming Market by End User
5.1 Global Individual Music Streaming Market by Region
5.2 Global Commercial Music Streaming Market by Region
Chapter 6. Global Music Streaming Market by Platform
6.1 Global Apps Music Streaming Market by Region
6.2 Global Browsers Music Streaming Market by Region
Chapter 7. Global Music Streaming Market by Service Type
7.1 Global On-demand Streaming Music Streaming Market by Region
7.2 Global Live Streaming Music Streaming Market by Region
Chapter 8. Global Music Streaming Market by Region
8.1 North America Music Streaming Market
8.2 Europe Music Streaming Market
8.3 Asia Pacific Music Streaming Market
8.4 LAMEA Music Streaming Market
Chapter 9. Company Profiles
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