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 primary key stakeholders of the music streaming market are streaming service providers, telecom providers, music publishers, and end-users. The streaming service providers such as Apple, Spotify, and Amazon, among others, offer various content to its customers. The packages are either paid subscription or advertisement based. The streaming service providers are highly focused on technological advancements such as live streaming. To increase its subscriber base, they enter into multiple partnerships to expand its library with local language content. Telecom providers play a key role in revenue generation. The streaming service providers collaborate with telecom operators to offer music subscriptions at a discounted rate to their customers. The music publishers are the companies releasing various music both online and by physical mode. The end users are commercial and individual. The commercial segment includes shopping mall, public places, and others.
Market Overview and Dynamics
The music streaming market in Europe was valued at US$ 6,260.2 Mn in 2019 and is projected to reach US$9,812.3 Mn by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.
The on-demand streaming enables the consumer to retrieve large catalogue of music online with minimal subscription fee. The number of consumers from the UK making payments for purchasing subscription of on-demand streaming such as Apple Music or Spotify has been increased. This has resulted into increased premium subscriptions and caused a revenue increase of 27.5%. Rise in the number of music subscribers has resulted into growing demand for on-demand streaming services. The promotions and popularity of family plans in digital music platforms such as Spotify, Apple, Alphabet, and Amazon has benefited the consumers.
Key Market Segments
In terms of content type, the audio streaming segment accounted for the largest share of the Europe Music Streaming market in 2019. In terms of streaming type, the on demand streaming segment held a larger market share of the music streaming market in 2019. Further, in terms of end user, the individual segment held a larger share of the market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred while preparing this report on the Music Streaming market in Europe are company websites, annual reports, financial reports, national government documents, statistical database, and among others. Major companies listed in the report are Amazon.com, Inc, Google LLC, Deezer, Apple, Inc, SoundCloud, Spotify Technology S.A., and others.
Reasons to buy report
Europe Music Streaming Market Segmentation
Europe Music Streaming Market, by Content Type
Europe Music Streaming Market, by Streaming Type
Europe Music Streaming Market, by End-user
Europe Music Streaming Market, by Country
Europe Music Streaming Market-Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 6,260.2 Million |
| Market Size by 2027 | US$ 9,812.3 Million |
| CAGR (2020 - 2027) | 5.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Content Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Music Streaming Market is valued at US$ 6,260.2 Million in 2019, it is projected to reach US$ 9,812.3 Million by 2027.
As per our report Europe Music Streaming Market, the market size is valued at US$ 6,260.2 Million in 2019, projecting it to reach US$ 9,812.3 Million by 2027. This translates to a CAGR of approximately 5.5% during the forecast period.
The Europe Music Streaming Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Music Streaming Market report:
The Europe Music Streaming Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Music Streaming Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Music Streaming Market value chain can benefit from the information contained in a comprehensive market report.
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