Online Music Streaming Market Report by Service (On-demand Streaming, Live Streaming), Revenue Model (Subscription, Non-Subscription), Platform (App, Browser), Content Type (Audio, Video), End User (Individual, Commercial), and Region 2024-2032

Online Music Streaming Market Report by Service (On-demand Streaming, Live Streaming), Revenue Model (Subscription, Non-Subscription), Platform (App, Browser), Content Type (Audio, Video), End User (Individual, Commercial), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6213
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Market Overview:

The global online music streaming market size reached US$ 19.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 40.6 Billion by 2032, exhibiting a growth rate (CAGR) of 8.18% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 19.7 Billion
Market Forecast in 2032
US$ 40.6 Billion
Market Growth Rate (2024-2032) 8.18%


Online music streaming applications enable users to listen to songs in real-time using an internet connection. These applications offer an on-demand service wherein audio media files are prearranged in sequential packets of data and transmitted to smartphones, tablets, TVs and computers without saving them to the hard drive. Presently, several companies are introducing smart devices, such as Amazon’s Alexa and Google Cast, to stream music online with hands-free control and instant playback features. With the escalating demand for these smart devices, on account of rapid urbanization, inflating disposable incomes and the emergence of smart homes, the demand for online music streaming applications is escalating worldwide.

Global Online Music Streaming Market

Online Music Streaming Market Trends:

The growing dependency on smartphones, increasing penetration of the internet and the thriving media and entertainment industry are among the key factors stimulating the growth of the online music streaming market worldwide. Moreover, easy access to music on multiple devices, along with the rising trend of on-demand songs, are driving the market growth. Apart from this, the integration of online music streaming applications with social media platforms allows users to create and share collaborative playlists with acquaintances. They also offer young artists a platform to upload and promote their tracks and reach a wider audience. Furthermore, digital service providers (DSPs) are launching applications with a user-friendly interface and a huge library of music and podcasts. These providers are also offering attractive premium plans, such as family packs or free subscription for a few months, which, in turn, is anticipated to bolster the market growth in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global online music streaming market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on service, revenue model, platform, content type and end user.

Breakup by Service:

  • On-demand Streaming
  • Live Streaming
     

Breakup by Revenue Model:

  • Subscription
  • Non-Subscription
     

Breakup by Platform:

  • App
  • Browser
     

Breakup by Content Type:

  • Audio
  • Video
     

Breakup by End User:

  • Individual
  • Commercial
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon.com Inc, ANGHAMI, Apple Inc., Gamma Gaana Ltd. (The Times Group), iHeartMedia Inc., Musixmatch, Saavn Media Pvt Ltd., SoundCloud Ltd., Spotify AB and Tencent Music Entertainment Group.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Service, Revenue Model, Platform, Content Type, End User, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amazon.com Inc, ANGHAMI, Apple Inc., Gamma Gaana Ltd. (The Times Group), iHeartMedia Inc., Musixmatch, Saavn Media Pvt Ltd., SoundCloud Ltd., Spotify AB and Tencent Music Entertainment Group
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global online music streaming market was valued at US$ 19.7 Billion in 2023.

We expect the global online music streaming market to exhibit a CAGR of 8.18% during 2024-2032.

The emerging trend of on-demand music, along with the introduction of smart devices, such as Amazon’s Alexa and Google cast, to stream music online with hands-free control and instant playback features, is primarily driving the global online music streaming market.

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of online music streaming platforms for entertainment purposes, during the lockdown scenario.

Based on the revenue model, the global online music streaming market has been segmented into subscription and non-subscription, where subscription currently holds the majority of the total market share.

Based on the platform, the global online music streaming market can be divided into app and browser. Currently, app exhibits a clear dominance in the market.

Based on the content type, the global online music streaming market has been categorized into audio and video, where audio currently accounts for the majority of the global market share.

Based on the end user, the global online music streaming market can be segregated into individual and commercial. Currently, individual holds the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global online music streaming market include Amazon.com Inc, ANGHAMI, Apple Inc., Gamma Gaana Ltd. (The Times Group), iHeartMedia Inc., Musixmatch, Saavn Media Pvt Ltd., SoundCloud Ltd., Spotify AB, and Tencent Music Entertainment Group.

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Online Music Streaming Market Report by Service (On-demand Streaming, Live Streaming), Revenue Model (Subscription, Non-Subscription), Platform (App, Browser), Content Type (Audio, Video), End User (Individual, Commercial), and Region 2024-2032
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