Music Streaming Market 2017–By Identifying the Key Market Segments Poised for Strong Growth in Future

SUMMARY

WiseGuyReports published new report, titled “Music Streaming”

The way music lovers listen to music has evolved all the way from its birth time in the 15th century when music publishers began by using machine-printed sheet music to distribute their audio art creations which then moved on to radio broadcasting, to the creation of record vinyls, to CD-ROMs, to mp4 music downloads from iTunes to now – streaming music online via the power of the internet. According to data from the Recording Industry Association of America, sales from streaming fueled the fastest growth in the world’s biggest music market since 1998. While the growth is apparent globally, American music listeners make up a vast portion of the industry and companies such as Apple and Spotify have had a lot to do with this growth.
For listeners, it works out much cheaper to subscribe to streaming services and listen to unlimited ad free music, providing the streamer has the licenses to showcase the listeners’ favorite artists. Instead of paying $0.99 a song or $5.99 for an album off iTunes for example – at the cost of $10 a month, they could instead listen to all the albums and songs on Apple’s database not having to worry about storage too, seeing as it is all streamed via an internet connection.

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Catalyst

In the world economy, the forces of growth and prosperity are complex and ever changing. New engines of growth emerge and decline rapidly and pinpointing their trajectory and long-term relevance can be elusive. The catalysts of change can be fundamental factors such an emerging technology, the needs of the global population, a change in regulation or a new method of monetization. In this report, we examine the music streaming industry and see just why it growing so well and how music streaming has helped to save the music industry.

Music industry: Saved by streaming services helping to remonetize the music business

The way music lovers listen to music has evolved all the way from its birth time in the 15th century when music publishers began by using machine-printed sheet music to distribute their audio art creations which then moved on to radio broadcasting, to the creation of record vinyls, to CD-ROMs, to mp4 music downloads from iTunes to now – streaming music online via the power of the internet. According to data from the Recording Industry Association of America, sales from streaming fueled the fastest growth in the world’s biggest music market since 1998. While the growth is apparent globally, American music listeners make up a vast portion of the industry and companies such as Apple and Spotify have had a lot to do with this growth. For listeners, it works out much cheaper to subscribe to streaming services and listen to unlimited ad free music, providing the streamer has the licenses to showcase the listeners’ favorite artists. Instead of paying $0.99 a song or $5.99 for an album off iTunes for example – at the cost of $10 a month, they could instead listen to all the albums and songs on Apple’s database not having to worry about storage too, seeing as it is all streamed via an internet connection.

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