Global Online Music Streaming Market to Reach US$ 23.7 Billion by 2028, accelerating at a CAGR of 9.28% | IMARC Group

According to IMARC Group's latest report, titled "𝐎𝐧𝐥𝐢𝐧𝐞 𝐌𝐮𝐬𝐢𝐜 𝐒𝐭𝐫𝐞𝐚𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗧𝗿𝗲𝗻𝗱𝘀, 𝗦𝗵𝗮𝗿𝗲, 𝗦𝗶𝘇𝗲, 𝗚𝗿𝗼𝘄𝘁𝗵, 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 2023-2028", the online music streaming market reached US$ 18.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 23.7 Billion by 2028, exhibiting a CAGR of 9.28% during 2023-2028.

Online music streaming platforms allow users to listen to music, audio, and podcasts in real time through an internet connection without downloading them. Some popular online music streaming applications include Tidal, Spotify, YouTube Music, Apple Music, Amazon Music Unlimited, Mixcloud, Google Play Music, Wynk Music, SoundCloud, Deezer, Pandora, and Gaana music. They offer on-demand services wherein audio media files are prearranged and transmitted to televisions (TVs), smartphones, computers, and tablets. In addition, they support autoplay and on-demand songs, provide high-quality audio and lyrics, enable users to share podcasts and music, and offer downloads for songs. Owing to these properties, online music streaming is gaining immense popularity among individuals across the globe.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗳𝗿𝗲𝗲 𝘀𝗮𝗺𝗽𝗹𝗲 𝗯𝗿𝗼𝗰𝗵𝘂𝗿𝗲: https://www.imarcgroup.com/request?type=report&id=6213&flag=A

𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐧𝐥𝐢𝐧𝐞 𝐌𝐮𝐬𝐢𝐜 𝐒𝐭𝐫𝐞𝐚𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬

The market is primarily driven by the increasing popularity of online music streaming platforms and the growing expenditure capacities of consumers. Besides this, the incorporation of smart devices, including Google cast and Alexa by Amazon, to stream music online with instant playback and hands-free control features is also contributing to the market growth. In addition, the rising penetration of the internet and significant expansion of the media and entertainment industry are contributing to the market growth.

Moreover, the integration of 5th generation (5G) mobile networks, machine learning (ML), virtual reality (VR), and artificial intelligence (AI) represent another major growth-inducing factor. Besides this, the coronavirus disease (COVID-19) pandemic has escalated online video and audio music streaming during the lockdown, thus, propelling the market growth. Additionally, the extensive use of online music streaming applications by gyms, cafes, and restaurants pubs is providing a positive thrust to the market growth. Furthermore, strategic partnerships and mergers and acquisitions (M&A) among leading market players to extend their company presence are also creating a favorable market outlook.

𝗖𝗵𝗲𝗰𝗸𝗼𝘂𝘁 𝗡𝗼𝘄:
https://www.imarcgroup.com/checkout?id=6213&method=1

𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐧𝐥𝐢𝐧𝐞 𝐌𝐮𝐬𝐢𝐜 𝐒𝐭𝐫𝐞𝐚𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 2023-2028 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

The competitive landscape of the online music streaming market has been studied in the report with the detailed profiles of the key players operating in the market.

𝗦𝗼𝗺𝗲 𝗼𝗳 𝘁𝗵𝗲𝘀𝗲 𝗸𝗲𝘆 𝗽𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:

Amazon.com Inc

ANGHAMI, Apple Inc.

Gamma Gaana Ltd. (The Times Group)

iHeartMedia Inc.

Musixmatch

Saavn Media Pvt Ltd.

SoundCloud Ltd.

Spotify AB

and Tencent Music Entertainment Group.

𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻:

The report has segmented the online music streaming market on the basis of service, Revenue Model, Platform, Content type and End User

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞:

On-demand Streaming
Live Streaming

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐌𝐨𝐝𝐞𝐥:

Subscription
Non-subscription

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦:

App
Browser

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 𝐓𝐲𝐩𝐞:

Audio
Video

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫:

Individual
Commercial
𝗔𝘀𝗸 𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗳𝗼𝗿 𝟭𝟬% 𝗳𝗿𝗲𝗲 𝗰𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲𝗱 𝗿𝗲𝗽𝗼𝗿𝘁: https://www.imarcgroup.com/online-music-streaming-market

𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗥𝗲𝗽𝗼𝗿𝘁:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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