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Music Streaming Subscription Services Market by Streaming Type (Audio Streaming, Video Streaming) by Service Type (On-demand Streaming, Live Streaming) by End-users (Residential, Commercial): Global Industry Size, Share, Statistics and Forecast 2015 – 2027

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Published: | Report ID: 14297 | Report Format : PDF

Market Insights

People involved in the music industry and technology devised a new outlet for music consumption: music streaming, in response to the decline of the general music industry, the rise of music sharing platforms such as Napster, and the atmosphere surrounding digital music downloads. These services charge users unlimited music downloads on various devices in exchange for an ad-supported or monthly membership. Spotify was founded in 2008 to release the potential of the human invention by allowing a million creative artists to earn a living while also allowing billions of fans to admire and be inspired by them. Music streaming subscription services had a market value of $ 19.3 billion in 2020, and it is expected to reach $ 39.9 billion by 2027 with a CAGR of 10.9% over the forecast period.

Music Streaming Subscription Services Market

Interesting Facts of Music Streaming Subscription Services Market.

  • Market expansion has been fuelled by technological advancements in the digital media industry.
  • The audio streaming sector is expected to have a larger market share throughout the forecast period.
  • The video streaming category will grow at a faster CAGR during the forecast period.
  • The residential sector is expected to grow at a faster CAGR during the forecast period.
  • During the forecast period, APAC will grow at the fastest CAGR.
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COVID-19 Impact

The influence of the COVID-19 pandemic on the market is discussed throughout the report. The pandemic has had a favorable impact on the music streaming subscription services market. Music streaming subscriptions have surged as most individuals remain at home due to mandatory confinement measures and health safety compliances. According to industry analysts, most music streaming or associated marketplace suppliers have seen a 25%-35% growth in their consumer base due to the pandemic.

The video streaming segment is expected to grow at the fastest CAGR during the forecast period.

The music streaming subscription services market is divided into two categories: audio streaming and video streaming. The video streaming category is predicted to increase at the fastest CAGR throughout the projected period. Consumers can now access video music via various devices at any time and location—the increasing adoption of broadband technology and ongoing technological advances in the media and information and communication industries. As evidence of this trend, a number of countries have seen significant growth in internet-based video services, such as Over-The-Top, the most recent and potentially disruptive innovation in the media industry. As the digital transformation progresses, OTT is viewed as the next generation of media that will bring innovation and efficiency.

In 2020, North America will dominate the market.

North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America are the regions considered in the market study. Because of the rapid rise of cloud-based streaming services, North America will have the highest revenue share in 2020. Meanwhile, the European Union held a sizable market share. It is expected to rise gradually due to the large audience accessing online content. Asia Pacific is expected to grow at the fastest CAGR during the projection period due to the increasing use of mobile phones and tablets, rapid technological advancements, and the popularity of online streaming.

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Global Music Streaming Subscription Services Market Key Players:

Some of the key players are Spotify AB, Apple Inc., Amazon.com, Inc., Tencent Music Entertainment Group., Alphabet Inc., Deezer, Sirius XM Radio Inc., SoundCloud Limited, TIDAL, Kakao Corp., iHeartMedia, Inc., Times Internet. Spotify’s new user acquisition in India increased in October 2021 due to more original content. Spotify claims that the introduction of Originals & Exclusives (O&E) aided its growth in India and Latin America. According to the company, this helped acquire new customers in both regions. In the third quarter, Spotify launched 76 new O&E podcasts worldwide.

1.Preface

1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation

2.Executive Summary
2.1.Market Snapshot: Global Music Streaming Subscription Services Market

3.Market Dynamics& Factors Analysis
3.1.Introduction
3.1.1. Global Music Streaming Subscription Services Market Value, 2015-2027, (US$ Mn)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition,2020
3.3.1.Streaming Type
3.3.2.Service Type
3.3.3.End-users
3.3.4.Geography
3.4.Porter’s Five Forces Analysis
3.4.1.Threat of New Entrants
3.4.2.Bargaining Power of Buyers/Consumers
3.4.3.Bargaining Power of Suppliers
3.4.4.Threat of Substitute Service Types
3.4.5.Intensity of Competitive Rivalry
3.5.Value Chain Analysis

4.Market Positioning of Key Players, 2020
4.1.Company market share of key players, 2020
4.2.Top 3 Players
4.3.Major Strategies Adopted by Key Players

5.COVID 19 Impact Analysis
5.1.Global Music Streaming Subscription Services Market Pre Vs Post COVID 19, 2019 – 2027
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply

6.North America
6.1.North America Music Streaming Subscription Services Market, by Country, 2015-2027(US$ Mn)
6.1.1.U.S.
6.1.2.Canada
6.2.North America Music Streaming Subscription Services Market, by Streaming Type, 2015-2027(US$ Mn)
6.2.1.Overview
6.2.2.Audio Streaming
6.2.3.Video Streaming
6.3.North America Music Streaming Subscription Services Market, by Service Type, 2015-2027(US$ Mn)
6.3.1.Overview
6.3.2.On-demand Streaming
6.3.3.Live Streaming
6.4.North America Music Streaming Subscription Services Market, by End-users, 2015-2027(US$ Mn)
6.4.1.Overview
6.4.2.Residential
6.4.3.Commercial

7.Europe
7.1.Europe Music Streaming Subscription Services Market, by Country, 2015-2027(US$ Mn)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Rest of Europe
7.2.Europe Music Streaming Subscription Services Market, by Streaming Type, 2015-2027(US$ Mn)
7.2.1.Overview
7.2.2.Audio Streaming
7.2.3.Video Streaming
7.3.Europe Music Streaming Subscription Services Market, by Service Type, 2015-2027(US$ Mn)
7.3.1.Overview
7.3.2.On-demand Streaming
7.3.3.Live Streaming
7.4.Europe Music Streaming Subscription Services Market, by End-users, 2015-2027(US$ Mn)
7.4.1.Overview
7.4.2.Residential
7.4.3.Commercial

8.Asia Pacific
8.1.Asia Pacific Music Streaming Subscription Services Market, by Country, 2015-2027(US$ Mn)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.Rest of Asia Pacific
8.2.Asia Pacific Music Streaming Subscription Services Market, by Streaming Type, 2015-2027(US$ Mn)
8.2.1.Overview
8.2.2.Audio Streaming
8.2.3.Video Streaming
8.3.Asia Pacific Music Streaming Subscription Services Market, by Service Type, 2015-2027(US$ Mn)
8.3.1.Overview
8.3.2.On-demand Streaming
8.3.3.Live Streaming
8.4.Asia Pacific Music Streaming Subscription Services Market, by End-users, 2015-2027(US$ Mn)
8.4.1.Overview
8.4.2.Residential
8.4.3.Commercial

9.Latin America
9.1.Latin America Music Streaming Subscription Services Market, by Country, 2015-2027(US$ Mn)
9.1.1.Brazil
9.1.2.Mexico
9.1.3.Argentina
9.1.4.Rest of Latin America
9.2.Latin America Music Streaming Subscription Services Market, by Streaming Type, 2015-2027(US$ Mn)
9.2.1.Overview
9.2.2.Audio Streaming
9.2.3.Video Streaming
9.3.Latin America Music Streaming Subscription Services Market, by Service Type, 2015-2027(US$ Mn)
9.3.1.Overview
9.3.2.On-demand Streaming
9.3.3.Live Streaming
9.4.Latin America Music Streaming Subscription Services Market, by End-users, 2015-2027(US$ Mn)
9.4.1.Overview
9.4.2.Residential
9.4.3.Commercial

10.Middle East
10.1.Middle East Music Streaming Subscription Services Market, by Country, 2015-2027(US$ Mn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Rest of Middle East
10.2.Middle East Music Streaming Subscription Services Market, by Streaming Type, 2015-2027(US$ Mn)
10.2.1.Overview
10.2.2.Audio Streaming
10.2.3.Video Streaming
10.3.Middle East Music Streaming Subscription Services Market, by Service Type, 2015-2027(US$ Mn)
10.3.1.Overview
10.3.2.On-demand Streaming
10.3.3.Live Streaming
10.4.Middle East Music Streaming Subscription Services Market, by End-users, 2015-2027(US$ Mn)
10.4.1.Overview
10.4.2.Residential
10.4.3.Commercial

11.Africa
11.1.Africa Music Streaming Subscription Services Market, by Country, 2015-2027(US$ Mn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa Music Streaming Subscription Services Market, by Streaming Type, 2015-2027(US$ Mn)
11.2.1.Overview
11.2.2.Audio Streaming
11.2.3.Video Streaming
11.3.Africa Music Streaming Subscription Services Market, by Service Type, 2015-2027(US$ Mn)
11.3.1.Overview
11.3.2.On-demand Streaming
11.3.3.Live Streaming
11.4.Africa Music Streaming Subscription Services Market, by End-users, 2015-2027(US$ Mn)
11.4.1.Overview
11.4.2.Residential
11.4.3.Commercial

12.Global
12.1.Global Music Streaming Subscription Services Market, by Streaming Type, 2015-2027(US$ Mn)
12.1.1.Overview
12.1.2.Audio Streaming
12.1.3.Video Streaming
12.2.Global Music Streaming Subscription Services Market, by Service Type, 2015-2027(US$ Mn)
12.2.1.Overview
12.2.2.On-demand Streaming
12.2.3.Live Streaming
12.3.Global Music Streaming Subscription Services Market, by End-users, 2015-2027(US$ Mn)
12.3.1.Overview
12.3.2.Residential
12.3.3.Commercial

13.Company Profiles
13.1.Spotify AB
13.2.Apple Inc.
13.3.Amazon.com, Inc.
13.4.Tencent Music Entertainment Group.
13.5.Alphabet Inc.
13.6.Deezer
13.7.Sirius XM Radio Inc.
13.8.SoundCloud Limited
13.9.TIDAL
13.10.Kakao Corp.
13.11.iHeartMedia, Inc.
13.12.Times Internet

List of Figures
FIG. 1Global Music Streaming Subscription Services Market: Research Methodology
FIG. 2Market Size Estimation – Top Down & Bottom up Approach
FIG. 3Global Music Streaming Subscription Services Market Segmentation
FIG. 4Global Music Streaming Subscription Services Market, by Streaming Type, 2019(US$ Mn)
FIG. 5Global Music Streaming Subscription Services Market, by Service Type, 2019(US$ Mn)
FIG. 6Global Music Streaming Subscription Services Market, by End-users, 2019(US$ Mn)
FIG. 7Global Music Streaming Subscription Services Market, by Geography, 2019(US$ Mn)
FIG. 8Attractive Investment Proposition, by Geography, 2019
FIG. 9Global Market Positioning of Key Music Streaming Subscription Services Market Companies, 2019
FIG. 10Global Music Streaming Subscription Services Market Value Contribution, By Service Type, 2020 & 2027 (Value %)
FIG. 11North America Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 12Europe Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 13Asia Pacific Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 14Middle East Music Streaming Subscription Services Market, 2015-2027 (US$ Mn)
FIG. 15Africa Music Streaming Subscription Services Market, 2015-2027 (US$ Mn)
FIG. 16U.S. Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 17Canada Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 18U.K. Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 19Germany Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 20France Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 21Italy Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 22Russia Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 23Spain Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 24Rest of Europe Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 25China Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 26Japan Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 27South Korea Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 28India Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 29Australia Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 30Rest of Asia Pacific Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 31Brazil Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 32Mexico Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 33Argentina Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 34Rest of Latin America Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 35UAE Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 36KSAMusic Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 37Israel Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 38Rest of Middle East Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 39South Africa Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 40Egypt Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 41Nigeria Music Streaming Subscription Services Market, 2015-2027(US$ Mn)
FIG. 42Rest of Africa Music Streaming Subscription Services Market, 2015-2027(US$ Mn)

List of Tables
TABLE 1Market Snapshot: Global Music Streaming Subscription Services Market
TABLE 2Global Music Streaming Subscription Services Market, by Streaming Type, 2015-2027 (US$ Mn)
TABLE 3Global Music Streaming Subscription Services Market, by Service Type, 2015-2027 (US$ Mn)
TABLE 4Global Music Streaming Subscription Services Market, by End-users, 2015-2027 (US$ Mn)
TABLE 5Global Music Streaming Subscription Services Market, by Vehicle Type, 2015-2027 (US$ Mn)
TABLE 6Global Music Streaming Subscription Services Market, by Geography, 2015-2027 (US$ Mn)
TABLE 7North America Music Streaming Subscription Services Market, by Streaming Type, 2015-2027 (US$ Mn)
TABLE 8North America Music Streaming Subscription Services Market, by Service Type, 2015-2027 (US$ Mn)
TABLE 9North America Music Streaming Subscription Services Market, by End-users, 2015-2027 (US$ Mn)
TABLE 10North America Music Streaming Subscription Services Market, by Country, 2015-2027 (US$ Mn)
TABLE 11Europe Music Streaming Subscription Services Market, by Streaming Type, 2015-2027 (US$ Mn)
TABLE 12Europe Music Streaming Subscription Services Market, by Service Type, 2015-2027 (US$ Mn)
TABLE 13Europe Music Streaming Subscription Services Market, by End-users, 2015-2027 (US$ Mn)
TABLE 14Europe Music Streaming Subscription Services Market, by Country/Region, 2015-2027 (US$ Mn)
TABLE 15Asia Pacific Music Streaming Subscription Services Market, by Streaming Type, 2015-2027 (US$ Mn)
TABLE 16Asia Pacific Music Streaming Subscription Services Market, by Service Type, 2015-2027 (US$ Mn)
TABLE 17Asia Pacific Music Streaming Subscription Services Market, by End-users, 2015-2027 (US$ Mn)
TABLE 18Asia Pacific Music Streaming Subscription Services Market, by Country/Region, 2015-2027 (US$ Mn)
TABLE 19Latin America Music Streaming Subscription Services Market, by Streaming Type, 2015-2027 (US$ Mn)
TABLE 20Latin America Music Streaming Subscription Services Market, by Service Type, 2015-2027 (US$ Mn)
TABLE 21Latin America Music Streaming Subscription Services Market, by End-users, 2015-2027 (US$ Mn)
TABLE 22Latin America Music Streaming Subscription Services Market, by Country/Region, 2015-2027 (US$ Mn)
TABLE 23Middle East Music Streaming Subscription Services Market, by Streaming Type, 2015-2027 (US$ Mn)
TABLE 24Middle East Music Streaming Subscription Services Market, by Service Type, 2015-2027 (US$ Mn)
TABLE 25Middle East Music Streaming Subscription Services Market, by End-users, 2015-2027 (US$ Mn)
TABLE 26Middle East Music Streaming Subscription Services Market, by Country/Region, 2015-2027 (US$ Mn)
TABLE 27Africa Music Streaming Subscription Services Market, by Streaming Type, 2015-2027 (US$ Mn)
TABLE 28Africa Music Streaming Subscription Services Market, by Service Type, 2015-2027 (US$ Mn)
TABLE 29Africa Music Streaming Subscription Services Market, by End-users, 2015-2027 (US$ Mn)
TABLE 30Africa Music Streaming Subscription Services Market, by Country/Region, 2015-2027 (US$ Mn)

Frequently asked questions

What is the current size of the global Music Streaming Subscription Services market?

The music streaming subscription services market is expected to grow from US$ 19.3 billion in 2020 to US$ 39.9 billion by 2027, with a CAGR of 10.9% from 2021 to 2027.

What are the major opportunities in Music Streaming Subscription Services industry?

The market’s enormous potential is being driven by rising demand for online streaming services over traditional platforms, as well as network capacity optimization.

What is major growth driving factor for Music Streaming Subscription Services industry?

Some of the market’s driving forces include the increasing popularity of mobile devices and internet users, as well as technological advancements in the digital media industry.

Which region is expected to have the largest share of the Music Streaming Subscription Services market?

North America dominated the global market for music streaming subscription services.

Which application will grow with highest CAGR in the Music Streaming Subscription Services market?

The commercial application accounts for the largest share of the music streaming subscription service industry.

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