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Online Music Streaming Market Set For Next Leg Of Growth | Amazon, Inc., Anghami, Apple, Inc., Deezer, iHeartRadio

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Online Music Streaming Market Set For Next Leg Of Growth | Amazon, Inc., Anghami, Apple, Inc., Deezer, iHeartRadio

July 05
15:24 2021
Online Music Streaming Market Set For Next Leg Of Growth | Amazon, Inc., Anghami, Apple, Inc., Deezer, iHeartRadio

Online Music Streaming Market
Online Music Streaming Market by Service, Revenue Model, Platform, End User, and Content Type: Global Opportunity Analysis and Industry Forecast, 2021–2027,” the global online music streaming market size is expected to reach $24,711.3 million by 2027 at a CAGR of 9.8% from 2021 to 2027.

Online Music Streaming Market by Service (On-demand Streaming and Live Streaming), Revenue Model (Subscription and Non-subscription), Platform (App and Browser), End User (Individual and Commercial), and Content Type (Audio and Video): Global Opportunity Analysis and Industry Forecast, 2021-2027  , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Online Music Streaming market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Online Music Streaming market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis

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Online Music Streaming Market by Service, Revenue Model, Platform, End User, and Content Type: Global Opportunity Analysis and Industry Forecast, 2021–2027,” the global online music streaming market size is expected to reach $24,711.3 million by 2027 at a CAGR of 9.8% from 2021 to 2027. 

Online music streaming is a means of delivering music without downloading any file from the internet. Music is stored on the servers’ database and is instantly transferred to the streamer or users’ device in real time over the internet. Online music streaming services allows users to stream online music videos, audio songs, podcasts, and live performances of artists. Online music streaming service providers offer certain features such as customized playlists, song recommendations, and easy accessibility to music on both the app and browser platforms. Increase in popularity of podcasts is attracting consumers’ attention lately, and is expected to drive the growth of the global market during the forecast period. In addition, online music streaming has gained high traction in the past few years, due to surge in adoption of smart devices such as smartphones and increase in popularity of digital platforms such as Spotify, Amazon Music, and Deezer. Moreover, wide-scale penetration of internet across the globe is positively impacting the online music streaming market.

The emergence of online music streaming platforms such as Spotify and Apple Music has drastically reduced the illegal sharing and downloading of music over the internet that generated no revenue to the music labels and artists. This has notably 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 music streaming platforms is increasing the audience globally. Moreover, high-quality, hassle-free services, free trials, and discounted prices offered by music streaming service providers attract 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 comes from online streaming. These factors are anticipated to or propel the growth of the global online music streaming market during the forecast period.

The outbreak of COVID-19 pandemic 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 engaged in 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. were streaming more of the video content rather than the audio content. Therefore, the pandemic boosted the growth of the video segment. Hence, the COVID-19 had a positive impact on the global online music streaming industry.

The online music streaming market is segmented into service, revenue model, platform, end user, content type, and region. On the basis of service, the market is bifurcated into on-demand streaming and live streaming. By revenue model, it is segregated into subscription and non-subscription based model. As per platform, it is categorized into app and browser. Depending on end user, it is differentiated into individual and commercial. According to content type, it is fragmented into audio and video content. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, the Netherlands, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

According to the online music streaming market forecast, on the basis of service, the on-demand streaming segment was the highest contributor to the market, with $9,003.7 million in 2019, and is expected to sustain its significance during the forecast period, due to ease and convenience of streaming music according to the users’ mood and time. The live online music streaming is expected to exhibit a substantial growth during the forecast period, due to increase in activities of popular artists over the internet.

On the basis of the revenue model, the subscription model was the dominating segment in 2019, due to immense increase in the number of paid subscribers in the past few years. Moreover, most of the players in the global online music streaming market operate on the non-subscription or the freemium model majorly to attract huge customer base. Spotify, the leading player in the market, focuses majorly on the subscription model, whereas Pandora, one of the major players, focuses on the freemium model.

According to the online music streaming market trends, based on the platform, the app segment led the online music streaming market globally. This is attributed to the fact that app is the most convenient, easy, and popular platform for streaming online music, due to rise in penetration of smartphones and internet across the globe. Furthermore, major market players are competing on the browser platform to gain market share. For example, Apple, Inc. announced the launch of Apple Music player for web in 2020. Hence, browser acts as a remunerative segment for the market players.

On the basis of end user, the individual segment garnered the highest online music streaming market share of 76.3% in 2019, owing to the fact that emergence of online music streaming services have enabled users to access millions of songs easily. Moreover, changes in lifestyle of individuals, which comprise listening to music during commuting, daily chores, and exercising have propelled the growth of the individual segment. According to the online music streaming market forecast, the commercial segment is expected to grow at a promising rate, due to the development of commercial complexes, restaurants, gyms, health clubs, and malls. All these commercial spaces use music streaming services to offer a pleasing ambience to their customers.

As per content type, the audio segment exhibited the highest growth, , as users listen to music during daily chores, travelling, jogging, and exercising. Thus, busy and hectic lifestyle of consumer enables them to access the audio content easily as compared to that of the video content. However, increase in popularity of over-the-top (OTT) and short video platforms is expected to boost the growth of the video segment during the forecast period.

According to the global online music streaming market analysis, in 2019, North America dominated the market, garnering 38.1% of market share, followed by Europe. North America and Europe are characterized by high disposable income and elevated demand & consumption of music, thus making them the leading online music streaming markets. However, Asia-Pacific is expected to show promising growth rate, due to rise in penetration of internet and increase in adoption of smartphone coupled with surge in internet users. LAMEA is estimated to grow at the fastest rate, due to surge in demand for local and regional songs among consumers.

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 findings of the study 

The 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, growing at a CAGR of 9.8% during the forecast period. 

By content type, the video segment is estimated to witness the fastest growth, registering a CAGR of 10.1% during the forecast period.

In 2019, depending on revenue model, the subscription segment was valued at $9,586.5 million, accounting for 74.7% of the global online music streaming market share. 

In 2019, the U.S. was the most prominent market in North America, and is projected to reach $4,197.5 million by 2027, growing at a CAGR of 9.5% during the forecast period.

Key Segments Studied in the Global Online Music Streaming Market: Report Coverage

Professional Key players:  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.

Market Segmentation:

Online Music Streaming Market by Service (On-demand Streaming and Live Streaming), Revenue Model (Subscription and Non-subscription), Platform (App and Browser), End User (Individual and Commercial), and Content Type (Audio and Video): Global Opportunity Analysis and Industry Forecast, 2021-2027

Regional Scope:  

North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa, United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

 

Forecast Period 2021 to 2027 CAGR:    XX

Pages: 100+

Tables, Charts & Figures: 100+

Growth Drivers Pitfalls & Challenges

 

COVID-19 – Next Thoughts: In this piece, we have shared key data and numbers that shine a spotlight on the current scale of the crisis and the economic fallout.

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario

Market Behavior/ Level of Risk and Opportunity

End Industry Behavior/ Opportunity Assessment

Expected Industry Recovery Timeline

Business Impact Horizon

Opening of Economy by Q3 2020

xx

xx

xx

xx

Recovery – Opening of Economy extended till Q4 2020 / Q1 2021

xx

xx

xx

xx

 

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Study Explore :

  • Market Behavior/ Level of Risk and Opportunity
  • End Industry Behavior/ Opportunity Assessment
  • Expected Industry Recovery Timeline

For more information or any query mail at [email protected]

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:

Informational Takeaways from the Market Study: The report includesthe completely examined and evaluated data of the noticeable companies and their situation in the market considering impact of Coronavirus. The measured tools including SWOT analysis, Porter’s five powers analysis, and assumption return debt were utilized while separating the improvement of the key players performing in the market.

Key Development’s in the Market: This report fuses the major developments of the market that contains confirmations, composed endeavors, R&D, new thing dispatch, joint endeavours, and relationship of driving members working in the market.

 

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The study objectives of this report are:

Important Features that are under offering & key highlights of the report:
– Detailed overview of market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
– A neutral perspective towards market performance
– Market players information to sustain and enhance their footprint

The Study Explore COVID 19 Outbreak Impact Analysis

 

  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?

Ask Our Expert for Complete Report@:

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Key Points Covered in Online Music Streaming Market Report:

Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Online Music Streaming market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Online Music Streaming  Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

……..and view more in complete table of Contents

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