Music streaming has revolutionised the way consumers access and enjoy music. With access to over 90 million songs available on-demand via streaming services, listeners no longer need to purchase and store digital music files. The global music streaming industry has seen exponential growth in recent years driven by increasing smartphone and internet penetration along with the development of sophisticated artificial intelligence technologies that power personalised music recommendations.
The global Music Streaming Market Size generates billions of dollars in revenue annually by providing affordable subscription plans and ad-supported free tiers. Leading platforms like Spotify, Apple Music and YouTube Music have made vast music libraries accessible for monthly subscription fees as low as $10. With music streaming, listeners can create personal playlists and stations tailored to their musical tastes and discover new artists through AI-powered recommendations. Song lyrics, playlists and podcasts have expanded the types of audio content available beyond traditional music formats.
The Global Music Streaming Market is estimated to be valued at USD 47.06 Bn in 2025 and is expected to exhibit a CAGR of 17.3% over the forecast period 2025-2032.
Key Takeaways
Key players - Key players operating in the music streaming market are Spotify, Apple Music, YouTube Music, Amazon Music, Tencent Music and Deezer.
Growing demand - Widespread adoption of smartphones, tablets and other internet-enabled devices along with increasing penetration of high-speed mobile internet has boosted music streaming adoption around the world. Consumers prefer the effortless, on-demand access music streaming provides over storage and management of digital music files.
Global expansion - Major streaming platforms are aggressively expanding their global footprint and customized offerings for international markets. Regional musicians and podcasters are also utilizing streaming platforms to monetize and distribute their content worldwide reaching massive new audiences.
Market key trends
Personalized recommendations through AI - Streaming services continually analyse user listening habits and metadata to provide personalized playlist and station recommendations powered by algorithms and machine learning. This keeps users engaged by curating music they want to hear next based on past preferences. AI recommendations are a major driver of time spent and recurring usage on music streaming platforms.
Porter's Analysis
Threat of new entrants: Low barriers to entry for startups to come in but established major players dominate the industry with their large consumer bases and content libraries.
Bargaining power of buyers: Buyers have high bargaining power as they can switch between different music streaming platforms easily. Various prices plans and monthly/annual subscriptions make switching seamless.
Bargaining power of suppliers: Music labels and content creators have moderate power as platforms need exclusive content to attract and retain listeners however platforms can choose between various suppliers of music and content.
Threat of new substitutes: New technologies of digital music downloading, podcasts or online radio pose threat as substitutes but switching costs for users are lower.
Competitive rivalry: Intense competition between major players to cater more exclusive content and keep adding new features to drive more user engagement and payments.
Geographical regions
North America accounts for the largest share of the global music streaming market in terms of value. The large consumer base of music streaming platforms like Spotify, Apple Music, and others in the US and Canada has made North America the most dominating region.
Asia Pacific region is expected to witness the fastest CAGR over the forecast period owing to rising youth population, increasing smartphone and internet penetration, and growing disposable income of individuals in emerging economies like India and China. Launch of affordable data plans is also assisting the market growth in Asia Pacific.
Get this Report in Japanese Language- 音楽ストリーミング市場
Get this Report in Korean Language- 음악 스트리밍 시장
About Author-
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Known for her strong SEO background, she skillfully blends SEO strategies with insightful content. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
Comments
0 comment