Online Music Streaming Market 2023 Driving Factors Forecast Research 2029
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Most platforms are providing free services with ads or an option to choose a premium subscription, which is allowing users to switch to online streaming easily. Promotional offers such as discounts on premium subscription and free monthly trials are also boosting the market growth. Further, increasing smartphone penetration across the globe and the rise in the number of service providers are positively impacting the online music streaming market. Recently, most countries affected by COVID-19 has declared lockdowns to stop the spread of the virus. This move resulted in a rise in the number of users opting for online streaming services. For instance, Tencent Music Entertainment (TME) group a China-based streaming platform released its revenue, where the year-over-year growth of revenue for online music subscriptions increased by 70.0% in the first quarter of 2020. In addition, the number of online music premium subscribers reached 42.7 million. Moreover, the availability of regional content and the rising popularity of live streaming platforms are also providing a significant opportunity for market growth.
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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others
Global Online Music Streaming Market Report Segment
• On-Demand streaming
• Live Streaming
• Audio Streaming
• Video Streaming
By Revenue Model
Global Online Music Streaming Market Report Segment by Region
• United States
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
The Report Covers
• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global online music streaming market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.
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