How big is the music streaming industry?

The Global Music Streaming Market is projected to reach US$ 125.7 Billion by 2032 from US$ 31.9 Billion in 2022.

What is a music streaming service market?

A music streaming service is a streaming media service that primarily focuses on music and operates on digital platforms. These services allow users to stream copyrighted digital songs on demand from a library provided by the service.

What are the different types of music streaming?

The market is divided into paid music streaming and free music streaming. Free music streaming holds the major market share compared to paid music streaming.

Which platform leads the music streaming market?

The app segment leads the music streaming market, accounting for the largest revenue share. Music streaming apps are popular and widely used, offering a vast library of songs for users to access.

How do music streaming services benefit commercial users?

Music streaming services offer commercial entities the opportunity to create a better atmosphere, enhance customer satisfaction, and increase productivity through the power of music.

Who are the major end-users of music streaming services?

The individual segment covers the largest revenue share in the music streaming market. Many individuals use music streaming services for their daily activities and personalized playlists.

What are the drivers of the music streaming market?

Easy access to music and free subscriptions are significant drivers in the music streaming market. The availability of multi-device compatible services and the integration of voice assistants also contribute to market growth.

How is future for the music streaming market?

The music streaming market is expected to continue its growth trajectory, driven by advancements in technology, expanding internet connectivity, and the increasing popularity of streaming platforms.

Global Music Streaming Market By Type (Paid Music Streaming and Free Music Streaming), By Service (On Demand Streaming and Live Streaming), By Platform (Website and App), By End-User (Individual and Commercial), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Published date: Jan. 2024
Report ID: 12086
Number of Pages: 289
Format:

Overview
Table of Contents
Major Market Players
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- Spotify AB
- Apple, Inc.
- Amazon.com, Inc. Company Profile
- Google LLC
- Deezer SA
- Pandora Media, Inc.
- Tencent Music Entertainment Group
- Tidal
- SoundCloud Global Limited & Co. KG
- iHeartMedia, Inc.