Report : Middle East and Africa Music Streaming Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Content Type (Audio Streaming and Video Streaming), Streaming Type (Live Streaming and On-demand Streaming), and End User (Commercial and Individual)
On-Demand Segment to Dominate MEA Music Streaming Market during 2019–2027
According to a new market research study on “MEA Music Streaming Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Content Type, Streaming Type, and End User” is expected to reach US$ 3228.5 million by 2027 from US$ 1536.4 million in 2019. The market is estimated to grow at a CAGR of 9.5 % from 2020 to 2027. The report provides trends prevailing in the MEA music streaming market along with the drivers and restraints pertaining to the market growth. Rising popularity of digital music streaming websites and surge in number of music subscribers are the major factor driving the growth of the MEA music streaming market. However, accessibility of free digital music platforms hinders the growth of the MEA music streaming market. In case of COVID-19, Saudi Arabia has the most significant COVID-19 cases in the MEA region and is followed by South Africa and the UAE, among others. UAE was the first country in the MEA to report a confirmed case of coronavirus. The COVID-19 pandemic would have significant effects on MEA economies, but the companies that provide platform for music streaming are significantly witnessing the demand from consumers. Online entertainment is one of the bright spots in business during the outbreak of the COVID-19 pandemic in the MEA region. Tencent Holdings Ltd. is planning to launch its paid music app Joox to some of Africa’s populous countries after the streaming service proved a hit in Southeast Asia.
The MEA music streaming market is segmented into content type, streaming type, end user, and country. Based on content type, the market is segmented into audio streaming and video streaming. The audio streaming market dominated the MEA market. As music content is accessible anywhere and anytime due to affordable subscription plans, it has made the market of audio streaming growth in the masses. Based on streaming type, the market is segmented into live streaming and on demand streaming. The on-demand streaming segment held the largest market share in 2019. Due to better internet facility, the viewers prefer to listen to content online which is impacting the growth of on-streaming across the MEA. Also, live streaming is expected to be fastest growing during forecast period. Based on end user, the market is segmented into individual and commercial. Individual segment dominated the market in 2019.Commercial segment is expected to be fastest growing during forecast period.
Amazon.com, Inc.; Apple, Inc.; Google LLC; Joox; Spotify Technology S.A. are among the leading companies in the MEA music streaming market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Google is killing off its Google play music and transitioning existing customers to its other music service, YouTube music. The company made a strategic decision to focus on the marketing of YouTube music instead of Google play music.
MEA Music Streaming Market, By Country, 2019 and 2027 (%)
The report segments the MEA Music Streaming Market as follows:
MEA Music Streaming Market – By Content Type
- Audio Streaming
- Video Streaming
MEA Music Streaming Market – By Streaming Type
- Live Streaming
- On – Demand Streaming
MEA Music Streaming Market – By End User
- Commercial
- Individual
MEA Music Streaming Market – By Country
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA