Asia Pacific Music Streaming Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Content Type (Audio Streaming, Video Streaming), Streaming Type (Live Streaming, On-demand Streaming), End User (Commercial, Individual), and Country
Market Introduction
The scope of the digital music streaming websites is taking over the musical scenario. Owing to the availability of cloud technology, regional music offerings, increased smartphone adoption, advanced streaming applications, and lesser cost of data are some of the major aspects transforming the entire landscape of music streaming. Factors such as demand for multiple digital music platforms and rising number of music subscribers will drive the growth of music streaming market.
The introduction of cloud-based music in the music streaming market is expanding, which in turn drives the adoption of music platforms. The vendors are developing several user-friendly applications to ensure easy streaming of music over tablets and smartphones. The availability of cloud feature in music streaming platform is boosting the adoption of digital music platforms. Moreover, factors such as presence of digital savvy population, increasing disposable income, and smartphone adoption are propelling the adoption of digital music platforms at a significant rate. With respect to subscriptions in digital platforms, below are some of the subscription plans provided by prominent music streaming service providers to increase number of music subscribers.
- Individual subscriptions for $9.99 from Apple Music, Amazon Music Unlimited, Napster, Pandora Premium, Spotify Premium Google Play Music, and YouTube. Additionally, Pandora offers subscription under the name of Pandora plus for $4.99.
- Pandora, YouTube, and Spotify give advertising supported music services which are also called as free to the listener services
- Companies such as Amazon, Apple, and Spotify offer Student Subscription for $4.99.
The government of Asia Pacific countries is taking possible steps to reduce the effects of coronavirus pandemic by announcing lockdown. China was the first country with COVID -19 confirmed cases. However, China has emerged from a 2-month containment phase and moved into the mitigation stage. The COVID-19 outbreak in China negatively impacted Tencent Music Entertainment, China’s largest online music business. However, due to the containment phase, the significantly gained profit due to the increase in the number of paid subscribers. The subscription was traditionally not a dominant business model for Tencent Music Entertainment. So, the acceleration in paying subscriber numbers was welcomed by the company’s management. They rose 70% YoY to reach 42.7 million at the end of March, now representing 6.5% of the company’s monthly users.
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Market Overview and Dynamics
The music streaming market in APAC was valued at US$ 6,963.5 Mn in 2019 and is projected to reach US$ 13,975.9 Mn by 2027; it is expected to grow at a CAGR of 8.9% from 2020 to 2027.
The APAC region is gaining more and more traction with the help of both multinational and regional music streaming service providers. The Asia is booming to become second-largest territory for combined digital and physical revenue, with majorly strong growth in South Korea. People with age group of 18-24 years and 25-30 years spend heavily on music subscription services and thus there were approximately 300 million users present by 2020. A mix of JOOX, SoundCloud, Spotify, Apple Music, Line Music, and Moov music streaming platforms are majorly used in Thailand, Malaysia, Indonesia, and Hong Kong. Moreover, there are some partnerships between mobile network operators and music streaming service providers that further nourish the market growth. StartHub, PCCW, SingTel, Telkomsel, Indosat are some of them operators in Asian market.
Key Market Segments
In terms of content type, the audio streaming segment accounted for the largest share of the APAC Music Streaming market in 2019. In terms of streaming type, the on demand streaming segment held a larger market share of the music streaming market in 2019. Further, in terms of end user, the individual segment held a larger share of the market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred while preparing this report on the Music Streaming market in APAC are company websites, annual reports, financial reports, national government documents, statistical database, and among others. Major companies listed in the report are Amazon.com, Inc, Google LLC, Deezer, Apple, Inc., Spotify Technology S.A., JOOX., and others.
Reasons to buy report
- To understand the APAC music streaming market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC music streaming market
- Efficiently plan M&A and partnership deals in APAC music streaming market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC music streaming market
- Obtain market revenue forecast for market by various segments from 2020 to 2027 in APAC region
APAC Music Streaming Market Segmentation
APAC Music Streaming Market, by Content Type
- Audio Streaming
- Video Streaming
APAC Music Streaming Market, by Streaming Type
- Live Streaming
- On-Demand Streaming
APAC Music Streaming Market, by End-User
- Commercial
- Individual
APAC Music Streaming Market, by Country
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
APAC Music Streaming Market-Companies Mentioned
- Amazon.com, Inc
- Google LLC
- Deezer
- Apple, Inc.
- Spotify Technology S.A.
- JOOX
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Music Streaming Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Ecosystem Analysis
5. Music Streaming Market – Key Market Dynamics
5.1 Key Market Driver
5.1.1 Rising Demand for Digital Music Streaming Websites
5.2 Key Market Restraints
5.2.1 Accessibility of Free Digital Music Platforms
5.3 Key Market Opportunities
5.3.1 Rise in On-Demand Streaming
5.4 Future Trends
5.4.1 Growing Penetration of Online Music Streaming
5.5 Impact Analysis of Drivers and Restraints
6. Music Streaming Market– APAC Analysis
6.1 APAC Music Streaming Market Overview
6.1.1 APAC: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
6.2 Market Positioning – Five Key Players
7. Music Streaming Market Analysis – By Content Type
7.1 Overview
7.1.1 Music Streaming Market Breakdown, by Content Type, 2019 & 2027
7.2 Audio Streaming
7.2.1 Overview
7.2.2 Audio Streaming Market Revenue and Forecast to 2027 (US$ Million)
7.3 Video Streaming
7.3.1 Overview
7.3.2 Video Streaming Market Revenue and Forecast to 2027 (US$ Million)
8. Music Streaming Market Analysis – By Streaming Type
8.1 Overview
8.2 Music Streaming Market Breakdown, by Streaming Type, 2019 & 2027
8.3 Live Streaming
8.3.1 Overview
8.3.2 Live Streaming Market Revenue and Forecast to 2027 (US$ Million)
8.4 On-Demand Streaming
8.4.1 Overview
8.4.2 On-demand Streaming Market Revenue and Forecast to 2027 (US$ Million)
9. Music Streaming Market Analysis – By End User
9.1 Overview
9.2 Music Streaming Market Breakdown, by End-User, 2019 & 2027
9.3 Commercial
9.3.1 Overview
9.3.2 Commercial Market Revenue and Forecast to 2027 (US$ Million)
9.4 Individual
9.4.1 Overview
9.4.2 Individual Market Revenue and Forecast to 2027 (US$ Million)
10. Music Streaming Market Revenue and Forecast to 2027 –Country Analysis
10.1 Overview
10.1.1.1 Australia: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Australia: Music Streaming Market, by Content Type
10.1.1.1.2 Australia: Music Streaming Market, by Streaming Type
10.1.1.1.3 Australia: Music Streaming Market, by End User
10.1.1.2 China: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 China: Music Streaming Market, by Content Type
10.1.1.2.2 China: Music Streaming Market, by Streaming Type
10.1.1.2.3 China: Music Streaming Market, by End User
10.1.1.3 India: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 India: Music Streaming Market, by Content Type
10.1.1.3.2 India: Music Streaming Market, by Streaming Type
10.1.1.3.3 India: Music Streaming Market, by End User
10.1.1.4 Japan: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 Japan: Music Streaming Market, by Content Type
10.1.1.4.2 Japan: Music Streaming Market, by Streaming Type
10.1.1.4.3 Japan: Music Streaming Market, by End User
10.1.1.5 South Korea: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 South Korea: Music Streaming Market, by Content Type
10.1.1.5.2 South Korea: Music Streaming Market, by Streaming Type
10.1.1.5.3 South Korea: Music Streaming Market, by End User
10.1.1.6 Rest of APAC: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of APAC: Music Streaming Market, by Content Type
10.1.1.6.2 Rest of APAC: Music Streaming Market, by Streaming Type
10.1.1.6.3 Rest of APAC: Music Streaming Market, byEnd User
11. Music Streaming Market - COVID-19 Impact Analysis
11.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
13. Company Profiles
13.1 Amazon.com, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Google LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Deezer
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.5 Apple, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.7 Spotify Technology S.A.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 JOOX
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Australia: Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 3. Australia: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. Australia: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 5. China: Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 6. China: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. China: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 8. India: Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 9. India: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. India: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 11. Japan: Music Streaming Market, By Content Type – Revenue and Forecast to 2027 (US$ Million)
Table 12. Japan: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. Japan: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 14. South Korea: Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 15. South Korea: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 16. South Korea: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 17. Rest of APAC: Music Streaming Market, By Content Type – Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of APAC: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of APAC: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. Music Streaming Market Segmentation
Figure 2. APAC Music Streaming Market Overview
Figure 3. Audio Streaming Segment Held the Largest Share During Forecast Period
Figure 4. On-demand Streaming Segment Dominated the Market
Figure 5. Individual Segment to Show Great Traction During Forecast Period
Figure 6. APAC
Figure 7. Ecosystem Analysis
Figure 8. Music Streaming Market: Impact Analysis of Drivers and Restraints
Figure 9. APAC: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. Music Streaming Market Breakdown, by Content Type (2019 and 2027)
Figure 11. Audio Streaming Market Revenue and Forecast to 2027 (US$ Million)
Figure 12. Video Streaming Market Revenue and Forecast to 2027 (US$ Million)
Figure 13. Music Streaming Market Breakdown, by Streaming Type (2019 and 2027)
Figure 14. Live Streaming Market Revenue and Forecast to 2027(US$ Million)
Figure 15. On-demand Streaming Market Revenue and Forecast to 2027(US$ Million)
Figure 16. Music Streaming Market Breakdown, by End-user (2019 and 2027)
Figure 17. Commercial Market Revenue and Forecast to 2027(US$ Million)
Figure 18. Individual Market Revenue and Forecast to 2027(US$ Million)
Figure 19. APAC: Music Streaming Market Revenue Share, By Country (2019 and 2027)
Figure 20. Australia: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. China: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. India: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Japan: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. South Korea: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Rest of APAC: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in Asia Pacific Country
- Amazon.com, Inc
- Google LLC
- Deezer
- Apple, Inc.
- Spotify Technology S.A.
- JOOX