DUBLIN--(BUSINESS WIRE)--The "Online Music Streaming Market by Service, Revenue Model, Platform, End User, and Content Type: Global Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The global online music streaming market size was valued at $12,831.2 million in 2019, and is estimated to reach $24,711.3 million by 2027, registering a CAGR of 9.8% from 2021 to 2027.
The emergence of online music streaming platforms such as Spotify and Apple Music have drastically reduced the illegal sharing and downloading of music over the internet that generated no revenue to the music labels and the artists. This has considerably minimized the threat of piracy, thus making online music streaming platforms a reliable option for artists and music labels such as Universal Music Publishing Group, Sony Music Entertainment, and Warner Music Group.
Moreover, the constantly growing number of subscribers on the music streaming platforms is increasing the audience globally. High-quality, hassle-free services, free trials, and discounted prices offered by music streaming service providers are attracting a huge customer base. According to the International Federation of Phonographic Industry (IFPI), around 62.1% of the revenue of the global recorded music market is generated from online streaming. These factors are responsible for propelling the growth of the global online music streaming market.
The online music streaming services allow users to play and listen to music of their choice anytime and anywhere. This is facilitated by the wide scale penetration of internet and increase in users of digital devices such as smartphones, Bluetooth, and speakers. Moreover, the upcoming technological advancements such as 5G, artificial intelligence, virtual reality, and machine learning would enable service providers to offer customized playlists and a seamless user experience to customers, which is expected to fuel the growth of the online music streaming market.
Furthermore, exponential growth rate of global population, rapid urbanization, rise in disposable income, and love for music among the population foster the growth of the global online music streaming market in the forthcoming years.
The outbreak of COVID-19 pandemic further boosted the growth of the global online music streaming market. During the first phase of the pandemic, certain behavioral changes prevailed among consumers.
According to the Tencent Music Entertainment, people were streaming music using home appliances such as TV more than their smartphones during the lockdown. Moreover, upsurge has been witnessed in the number of subscribers on various platforms such as Spotify, Tencent Music Entertainment, and Amazon Music. People in the U.S. are more engaged in streaming more video content rather than audio content. Therefore, the pandemic resulted in an upsurge in the video segment. Hence, the COVID-19 had a positive impact on the global online music streaming market.
The players operating in the global online music streaming market have adopted various developmental strategies to expand their market share, exploit the online music streaming market opportunity, and increase profitability in the market.
The key players profiled in this report include Amazon, Inc., Anghami, Apple, Inc., Deezer, iHeartRadio, NetEase, Inc., Pandora Media, LLC., Spotify AB, Tencent Music Entertainment, and Tidal.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping global online music streaming industry/market
3.3. Market dynamics
3.3.1. Drivers
3.3.1.1. Growing penetration of smartphones, digital platforms, and smart devices
3.3.1.2. Growing fan base of popular artists enhances the revenue growth
3.3.1.3. Aggressive investment by record companies
3.3.2. Restraint
3.3.2.1. Copyright infringement is the major challenge
3.3.2.2. Threat of data privacy and security of databases are major concern
3.3.3. Opportunity
3.3.3.1. Introduction of 5G, artificial intelligence, and machine learning
3.3.3.2. Growing population of internet users in developing nations
3.4. COVID-19 Impact Analysis
3.5. Key Regulations
3.6. Parent-Peer Market Outlook
3.7. Case Study
CHAPTER 4: GLOBAL ONLINE MUSIC STREAMING MARKET, BY SERVICE
4.1. Overview
4.2. On-demand streaming
4.3. Live streaming
CHAPTER 5: GLOBAL ONLINE MUSIC STREAMING MARKET, BY REVENUE MODEL
5.1. Overview
5.2. Subscription
5.3. Non-subscription
CHAPTER 6: GLOBAL ONLINE MUSIC STREAMING MARKET, BY PLATFORM
6.1. Overview
6.2. App
6.3. Browser
CHAPTER 7: GLOBAL ONLINE MUSIC STREAMING MARKET, BY END-USER
7.1. Overview
7.2. Individual
7.3. Commercial
CHAPTER 8: GLOBAL ONLINE MUSIC STREAMING MARKET, BY CONTENT TYPE
8.1. Overview
8.2. Audio
8.3. Video
CHAPTER 9: ONLINE MUSIC STREAMING MARKET, BY REGION
9.1. Overview
9.1.1. Market size and forecast
CHAPTER 10: COMPETITION LANDSCAPE
10.1. Top winning strategies
10.2. Product mapping
10.3. Competitive dashboard
10.4. Competitive heat map
10.5. Key developments
CHAPTER 11: COMPANY PROFILES
- Amazon Inc.
- Anghami
- Apple Inc.
- Deezer
- iHeartRadio
- NetEase Inc.
- Pandora Media LLC.
- Spotify AB
- Tencent Music Entertainment
- Tidal
For more information about this report visit https://www.researchandmarkets.com/r/cookhm
