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Music Streaming Market Size, Share & Trends Analysis Report By Service (On-demand Streaming, Live Streaming), By Platform (Apps, Browsers), By End-use (Commercial, Individual), By Content Type, By Region, And Segment Forecasts, 2023 - 2030

July 2023 | 130 pages | ID: MC494F627C7BEN
Grand View Research, Inc.

US$ 4,950.00

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Music Streaming Market Growth & Trends

The global music streaming market size is expected to reach USD 103.07 billion by 2030, growing at a CAGR of 14.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is attributed to the rising popularity of music streaming platforms and the growing disposable income of individuals. The trend of implementing a dual revenue model by providing free trial options and paid subscriptions that help consumers choose their service depending on their requirements is driving the market growth further. In addition, they offer various advantages including an ad-free experience and offline listening capabilities.

These emerging trends by key players are anticipated to stimulate the expansion of the market. Furthermore, there is a significant rise in the popularity of cloud-based music as companies are focused on the development of user-friendly applications that facilitate seamless music streaming on portable devices like tablets and smartphones. Integrating the cloud element into music streaming platforms allows companies to enhance their services by providing advantages, such as streaming across multiple devices and efficient storage utilization, which is expected to drive market growth over the forecast period.

Key companies are focusing on launching new products and offerings to serve the large customer base and strengthen their foothold in the industry. For instance, in May 2023, SoundCloud Global Limited & Co. KG partnered with Merlin Limited, a music licensing partner company. The partnership aimed to support Merlin members and affiliated artists, enabling them to actively engage in SoundCloud’s Fan-Powered Royalties (FPR) model. Through implementing FPR, the company aims to prioritize a user-centric approach that ensures artists get royalties based on the tunes that appeal to their unique fan bases. Such developments by key companies are expected to augment the growth of the overall market in the years to come.

Music Streaming Market Report Highlights
  • The live streaming services segment is expected to register the fastest CAGR of 15.7% over the forecast period owing to the increasing popularity of live videos that has encouraged artists to stream live on social media websites
  • The application platform segment accounted for the largest revenue share of 86.4% in 2022 owing to the preference for easy accessibility with apps over browsers
  • Based on the content type, the video segment is expected to grow at the fastest CAGR of 15.4% over the forecast period. The growing demand for Over-the-Top (OTT) platforms globally is acting as a driver for the segment growth
  • The individual end-use segment accounted for the largest revenue share of 63.2% in 2022 due to the changing lifestyles of the younger generations who embrace the habit of incorporating music into their daily routines
  • Middle East & Africa is anticipated to emerge as the fastest-growing regional market with a CAGR of 17.5% from 2023 to 2030. The rising trend of smartphone adoption, along with increasing internet penetration, is driving the region’s growth
CHAPTER 1. METHODOLOGY AND SCOPE

1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
  1.3.1 Information Analysis
  1.3.2 Market Formulation & Data Visualization
  1.3.3 Data Validation & Publishing
1.4 Research Scope and Assumptions
  1.4.1 List of Data Sources

CHAPTER 2. EXECUTIVE SUMMARY

2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot

CHAPTER 3. MARKET VARIABLES, TRENDS & SCOPE

3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
  3.3.1 Market Driver Analysis
    3.3.1.1 Internet proliferation and penetration of smart devices
    3.3.1.2. Integration of the state-of-the-art technologies into music streaming platforms
    3.3.1.3. Availability of regional content on digital platforms
  3.3.2 Market Restraint Analysis
    3.3.2.1. Complex government regulatory framework and licensing regimes
    3.3.2.2. Threat from pirated channels
  3.3.3 Market Challenges
  3.3.4 Market Opportunities
3.4 Industry Analysis Tools
  3.4.1 Porter’s Analysis
  3.4.2 Macroeconomic Analysis

CHAPTER 4. SERVICE ESTIMATES & TREND ANALYSIS

4.1 Service Movement Analysis & Market Share, 2022 & 2030
4.2 Music Streaming Market Estimates & Forecast, By Service (USD Billion)
  4.2.1 On - demand Streaming
  4.2.2 Live Streaming

CHAPTER 5. PLATFORM ESTIMATES & TREND ANALYSIS

5.1 Platform Movement Analysis & Market Share, 2022 & 2030
5.2 Music Streaming Market Estimates & Forecast, By Platform (USD Billion)
  5.2.1 Apps
  5.2.2 Browsers

CHAPTER 6. CONTENT TYPE ESTIMATES & TREND ANALYSIS

6.1 Content Type Movement Analysis & Market Share, 2022 & 2030
6.2 Music Streaming Market Estimates & Forecast, By Content Type (USD Billion)
  6.2.1 Audio
  6.2.2 Video

CHAPTER 7. END-USE ESTIMATES & TREND ANALYSIS

7.1 End-use Movement Analysis & Market Share, 2022 & 2030
7.2 Music Streaming Market Estimates & Forecast, By End-use (USD Billion)
  7.2.1 Individual
  7.2.2 Commercial

CHAPTER 8. REGIONAL ESTIMATES & TREND ANALYSIS

8.1 Music Streaming Market by Region, 2022 & 2030
8.2 North America
  8.2.1 North America Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.2.2 U.S.
    8.2.2.1 U.S. Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.2.3 Canada
    8.2.3.1 Canada Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
8.3 Europe
  8.3.1 Europe Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.3.2 Germany
    8.3.2.1 Germany Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.3.3 UK
    8.3.3.1 UK Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.3.4 France
    8.3.4.1 France Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.3.5 Italy
    8.3.5.1 Italy Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.3.6 Spain
    8.3.6.1 Spain Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
8.4 Asia Pacific
  8.4.1 Asia Pacific Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.4.2 China
    8.4.2.1 China Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.4.3 Japan
    8.4.3.1 Japan Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.4.4 India
    8.4.4.1 India Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.4.5 South Korea
    8.4.5.1 South Korea Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
8.5 Latin America
  8.5.1 Latin America Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.5.2 Brazil
    8.5.2.1 Brazil Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.5.3 Mexico
    8.5.3.1 Mexico Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
8.6 Middle East & Africa (MEA)
  8.6.1 MEA Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.6.2 South Africa
    8.6.2.1 South Africa Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  8.6.3 UAE
    8.6.3.1 UAE Music Streaming Market Estimates & Forecasts, 2018 - 2030 (USD Billion)

CHAPTER 9. MUSIC STREAMING MARKET - COMPETITIVE LANDSCAPE

9.1 Key Market Participants
  9.1.1 Spotify AB
  9.1.2 Apple, Inc.
  9.1.3 Amazon.com, Inc.
  9.1.4 Google LLC
  9.1.5 Deezer SA
  9.1.6 Pandora Media, Inc.
  9.1.7 Tencent Music Entertainment Group
  9.1.8 Tidal
  9.1.9 SoundCloud Global Limited & Co. KG
  9.1.10 iHeartMedia, Inc.
9.2 Recent Development & Impact Analysis, By Key Market Participants
9.3 Company Categorization
9.4 Participant’s Overview
9.5 Financial Performance
9.6 Product Benchmarking
9.7 Company Heat Map Analysis
9.8 Key Company Market Share Analysis, 2022
9.9 Strategy Mapping
  9.9.1 Partnership
  9.9.2 Merger & Acquisition
  9.9.3 New Product/Feature Launch
  9.9.4 Certifications
LIST OF TABLES


Table 1 Key market driver impact
Table 2 Key market restraint impact
Table 3 Global music streaming market revenue estimates and forecast, by service, 2018 - 2030 (USD Billion)
Table 4 Global music streaming market revenue estimates and forecast, by platform, 2018 - 2030 (USD Billion)
Table 5 Global music streaming market revenue estimates and forecast, by content-type, 2018 - 2030 (USD Billion)
Table 6 Global music streaming market revenue estimates and forecast, by end-use, 2018 - 2030 (USD Billion)
Table 7 Company heat map analysis
Table 8 Key companies undergoing partnerships
Table 9 Key companies involved in merger & acquisition
Table 10 Key companies involved in new product launch
LIST OF FIGURES


Fig. 1 Music streaming market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Industry snapshot
Fig. 9 Music Streaming market value, 2022 (USD Billion)
Fig. 10 Value chain analysis
Fig. 11 Market dynamics
Fig. 12 Music streaming market: Porter’s analysis
Fig. 13 Music streaming market: PESTEL analysis
Fig. 14 Music streaming market, by service, key takeaways, 2018 - 2030, Revenue (USD Billion)
Fig. 15 Music streaming market, by service: market share, 2022 & 2030
Fig. 16 On-demand streaming market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 17 Live streaming market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 18 Music streaming market, by platform, key takeaways, 2018 - 2030, Revenue (USD Billion)
Fig. 19 Music streaming market, by platform: market share, 2022 & 2030
Fig. 20 Apps market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 21 Browsers market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 22 Music streaming market, by content type, key takeaways, 2018 - 2030, Revenue (USD Billion)
Fig. 23 Music streaming market, by content type: market share, 2022 & 2030
Fig. 24 Audio market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 25 Video market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 26 Music streaming market, by end-use, key takeaways, 2018 - 2030, Revenue (USD Billion)
Fig. 27 Music streaming market, by end-use: market share, 2022 & 2030
Fig. 28 Individual market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 29 Commercial market estimates & forecasts, 2018 - 2030 (USD Billion)
Fig. 30 Regional marketplace: Key takeaways
Fig. 31 North America music streaming market estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 32 U.S. music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 33 Canada music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 34 Europe music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 35 Germany music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 36 UK music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 37 France music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 38 Italy music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 39 Spain music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 40 Asia Pacific music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 41 China music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 42 Japan music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 43 India music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 44 South Korea music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 45 Latin America music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 46 Brazil music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 47 Mexico music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 48 MEA music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 49 South Africa music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 50 UAE music streaming estimates & forecast, 2018 - 2030 (USD Billion)
Fig. 51 Key company categorization
Fig. 52 Key company market share analysis, 2022
Fig. 53 Strategy framework


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