Music Streaming - Worldwide

  • Worldwide
  • Revenue in the Music Streaming market market worldwide is projected to reach €32.30bn in 2025.
  • This revenue is expected to demonstrate an annual growth rate (CAGR 2025-2029) of 4.89%, culminating in a projected market volume of €39.09bn by 2029.
  • In a global context, the majority of revenue will be generated the United States, amounting to €12,680.00m in 2025.
  • Within the Music Streaming market market globally, the number of users is anticipated to reach 1.2bn users by 2029.
  • User penetration is expected to be 13.3% in 2025 and is projected to increase to 14.5% by 2029.
  • Worldwide, the music streaming market is increasingly embracing personalized content and curated playlists, reflecting a growing demand for tailored listening experiences among global consumers.

Key regions: United Kingdom, South Korea, France, Europe, Asia

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Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Nov 2024

Fuente: Statista Market Insights

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Most recent update: Nov 2024

Fuente: Statista Market Insights

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Digital Music: market data & analysis - Background Digital Music: market data & analysis - Cover

Analyst Opinion

The Music Streaming market is experiencing significant growth worldwide, driven by changing customer preferences and advancements in technology.

Customer preferences:
Customers are increasingly shifting towards digital music streaming platforms due to the convenience and flexibility they offer. With music streaming services, customers have access to a vast library of songs on-demand, allowing them to discover and listen to music anytime, anywhere. This shift in customer preferences is fueled by the rise of smartphones and high-speed internet connectivity, making it easier for people to stream music on the go.

Trends in the market:
One of the major trends in the music streaming market is the dominance of global players such as Spotify, Apple Music, and Amazon Music. These platforms have established a strong presence worldwide and continue to attract a large user base through their extensive music libraries, personalized recommendations, and user-friendly interfaces. Additionally, these platforms are investing in exclusive content and partnerships with artists to differentiate themselves and retain customers. In addition to global players, there is also a rise in local and regional music streaming platforms that cater to specific markets. These platforms focus on providing localized content, curated playlists, and recommendations tailored to the preferences of the local population. This trend is particularly prominent in countries where language and culture play a significant role in music consumption.

Local special circumstances:
In countries like India, where music consumption is deeply rooted in regional languages and diverse cultural preferences, local music streaming platforms have gained popularity. These platforms offer a wide range of regional music, including Bollywood songs, regional language tracks, and independent music, catering to the diverse tastes of the Indian population. This has led to increased competition in the Indian music streaming market, with both global and local players vying for market share.

Underlying macroeconomic factors:
The growth of the music streaming market is also influenced by macroeconomic factors such as smartphone penetration, internet connectivity, and disposable income. As smartphone penetration continues to increase worldwide, more people have access to music streaming platforms. Similarly, the availability of high-speed internet connectivity enables seamless streaming of music, contributing to the growth of the market. Furthermore, rising disposable income in many countries has led to increased spending on entertainment and leisure activities, including music streaming subscriptions. As people prioritize convenience and access to a wide range of music, they are willing to pay for premium subscriptions that offer ad-free listening, offline downloads, and enhanced features. Overall, the music streaming market is witnessing significant growth worldwide, driven by changing customer preferences, advancements in technology, and underlying macroeconomic factors. With the continuous evolution of the market, both global and local players are adapting their strategies to cater to the diverse needs and preferences of customers in different regions.

Users

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Most recent update: Nov 2024

Fuente: Statista Market Insights

Global Comparison

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Most recent update: Nov 2024

Fuente: Statista Market Insights

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Digital Music market. Digital music is defined as audio content distributed to the end-user over the internet. This includes paid digital downloads of professionally produced single tracks or albums/compilations as well as subscription-based on-demand streaming services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

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