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. Spotify, Apple music, Amazon music unlimited, and YouTube music are some of the prominent online music streaming services prevailing in the SAM market. The application of music platforms is majorly adopted within the age group up of 18to 30years, as the individuals of this group are willing to invest high value on music streaming. Targeting new demographics would potentially raise service subscriptions and revenue of the providers. Additionally, consistent increase in on-demand streaming and accessibility of regional content on digital platforms will help the market to further grow and provide growth opportunities to the providers prevailing in the SAM music streaming market. Factors like growing number of music subscribers as well as regional content availability is expected to create a significant demand for music streaming in the coming years, which is further anticipated to drive the SAM music streaming market. Furthermore, in case of COVID-19, Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The government of SAM has taken an array of actions to protect their citizens and contain COVID-19’s spread. SAM is one of the most promising markets in music streaming. Vendors are taking strategic initiatives to increase the number of subscribers during the COVID-19 pandemic in SAM. The coronavirus outbreak's impact is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation will impact the music streaming market growth of the SAM region for the next few quarters.
Market Overview and Dynamics
The music streaming market in SAM is expected to grow from US$ 1235.4 million in 2019 to US$ 2782.0 million by 2027; it is estimated to grow at a CAGR of 10.4 % from 2020 to 2027.Scope of on- demand streaming is expected to surge the SAM music streaming market growth. The on-demand streaming enables the consumer to retrieve large catalogue of music online with minimal subscription fee. The number of consumers in SAM making payments for purchasing subscription of on-demand streaming such as Apple music or Spotify has been increased. 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. At present, the on-demand streaming is one of the most preferred services, as they use network infrastructure and on-demand audio streaming software to stream media files. Owing to exploration in on-demand streaming, there is significant increase in the number of subscribers. Advantages of on-demand streaming such as less subscription fees, large catalogue, different membership plans etc. is expected to increase its demand in coming year, which will drive the SAM music streaming market.
Key Market Segments
In terms of content type, the audio streaming segment accounted for the largest share of SAM music streaming market in 2019. In terms of streaming type, the on – demand streaming segment held a larger market share of the SAM music streaming market in 2019. Further, the individual segment held a larger share of the market based on end user in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the music streaming market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amazon.com, Inc.; Apple, Inc.; Deezer; Google LLC; Spotify Technology S.A.
Reasons to buy report
SAM Music Streaming Market Segmentation
By Streaming Type
By End User
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1235.4 Million |
| Market Size by 2027 | US$ 2782.0 Million |
| CAGR (2020 - 2027) | 10.4 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Content Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Music Streaming Market is valued at US$ 1235.4 Million in 2019, it is projected to reach US$ 2782.0 Million by 2027.
As per our report South America Music Streaming Market, the market size is valued at US$ 1235.4 Million in 2019, projecting it to reach US$ 2782.0 Million by 2027. This translates to a CAGR of approximately 10.4 % during the forecast period.
The South America 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 South America Music Streaming Market report:
The South America Music Streaming Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Music Streaming Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Music Streaming Market value chain can benefit from the information contained in a comprehensive market report.
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