Azoth Analytics has released a research report titled "Global Music Subscription Market (2023 Edition)" which provides a complete analysis of the Music Subscription service industry in terms of market segmentation by Service Type (On Demand, Live), Platform (Applications, Web) and by End User (Individual, Commercial).
The research also looks at the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution.
During the forecast period, 2023-2028, the Global Online Music Subscription Market is expected to expand at a CAGR of 14.94%. The increasing network connectivity, as well as the growing urbanization, are driving the market's growth.
The Music Subscription Market is expected to generate USD 73.57 billion by the end of 2028, up from USD 28.2 billion in 2021. A favourable growth element for the global online music subscription market is the increasing internet connectivity and availability of smart devices across the world. The emergence of high-speed internet and mobile devices has made it easier for consumers to access music content from anywhere at any time. In turn, this has driven the demand for online music subscription services, which provide users with access to a vast library of music, personalized playlists, and algorithm-driven recommendations.
The market is dominated by a few major players such as Spotify, Apple Music, Amazon Music, Tidal, and YouTube Music, which offer a range of services to suit different user needs. These services have differentiated themselves by offering unique features such as personalized playlists, algorithm-driven recommendations, and exclusive content from artists. The competition is fierce, and companies must constantly innovate and improve their offerings to attract and retain customers. The research covers a detailed analysis of the Americas, Europe, APAC, Middle East, and Africa (United States, Canada, Brazil, United Kingdom, Germany, France, Italy, China, Japan, and India). Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
To stay competitive, companies are increasingly focusing on developing new features and services that enhance the user experience. For example, Spotify has recently launched a feature that allows users to listen to music together remotely. Apple Music has also launched a range of original programming, including documentaries and music videos.
Value-added services have a significant impact on the online music subscription market. These services are designed to provide additional benefits to subscribers beyond basic music streaming services, and can help to differentiate one music streaming service from another. One of the main impacts of value-added services on the online music subscription market is the ability to increase customer retention. By offering additional features and benefits, music streaming services can provide a more compelling reason for subscribers to continue paying for their subscriptions. This can lead to a reduction in subscriber churn and an increase in the lifetime value of a customer.
Another impact of value-added services on the online music subscription market is the ability to attract new customers. By offering unique and exclusive content, such as live concerts or pre-release album streams, music streaming services can generate buzz and attract new subscribers. This can help to differentiate a music streaming service from its competitors and build a loyal customer base. Value-added services can also help to increase revenue for music streaming services. By offering premium features, such as higher-quality audio, offline listening, or personalized recommendations, music streaming services can charge a higher subscription fee. This can help to increase the average revenue per user (ARPU) and generate more revenue for the service.
Moreover, value-added services can help to enhance the overall user experience of a music streaming service. By offering additional features and benefits, music streaming services can provide a more personalized and engaging experience for their users. This can help to increase user satisfaction and build a positive brand image.
Scope of the Report
• The report analyses the Music Subscription Market by Value (USD Million).
• The report presents the analysis of the Music Subscription Market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
• The report analyses the Music Subscription Market by Service (On Demand, Live).
• The report analyses the Music Subscription Market by Platform (Applications, Web).
• The report analyses the Music Subscription Market by End User (Individual, Commercial).
• The countries analysed in the report include the United States, Canada, Brazil, Uk, France, Germany, China, Japan and India.
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by service, by platform, by end user.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Spotify, Apple Inc., Deezer S.A., Alphabet Inc., Tencent Music Entertainment Group, Sirius XM Holdings Inc., Amazaon.com Inc., NetEase Inc., Block Inc., Xandrie S.A.
Key Target Audience
• Music Subscription Providers
• Consulting and Advisory Firms
• Research and Development Organizations
• Government and Regulatory Authorities
1. Market Background
1.1 Scope and Product Outlook
1.2 Executive Summary
1.3 Research Methodology
2. Strategic Recommendations
3. Global Music Subscription Market: Historic and Forecast (2018-2028)
3.1 Impact Analysis of Macro Economic Factors on the Music Subscription Market
3.2 Average Revenue Per User in Music Subscription
3.3 Global Music Subscription Market: Dashboard
3.4 Global Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
3.5 Impact of COVID-19 on Music Subscription Market
3.6 Global Music Subscription Market Segmentation: By Service
3.6.1 Global Music Subscription Market, By Service Overview
3.6.2 Global Music Subscription Market Size, By On Demand, By Value, 2018H-2028F (USD Million & CAGR)
3.6.3 Global Music Subscription Market Size, By Live, By Value, 2018H-2028F (USD Million & CAGR)
3.7 Global Music Subscription Market Segmentation: By Platform
3.7.1 Global Music Subscription Market, By Platform Overview
3.7.2 Global Music Subscription Market Size, By Applications, By Value, 2018H-2028F (USD Million & CAGR)
3.7.3 Global Music Subscription Market Size, By Web, By Value, 2018H-2028F (USD Million & CAGR)
3.8 Global Music Subscription Market Segmentation: By End User
3.8.1 Global Music Subscription Market, By End User Overview
3.8.2 Global Music Subscription Market Size, By Individual, By Value, 2018H-2028F (USD Million & CAGR)
3.8.3 Global Music Subscription Market Size, By Commercial, By Value, 2018H-2028F (USD Million & CAGR)
4. Global Music Subscription Market, Regional Analysis
4.1 Regional Coverage of the Study
4.2 Regional Snapshot
5. Americas Music Subscription Market: Historic and Forecast (2018-2028)
5.1 Americas Music Subscription Market: Snapshot
5.2 Americas Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.3 Americas Music Subscription Market: Key Factors
5.4 Americas Music Subscription Market Segmentation: By Service
5.4.1 Americas Music Subscription Market, By Service Overview
5.4.2 Americas Music Subscription Market Size, By On Demand, By Value, 2018H-2028F (USD Million & CAGR)
5.4.3 Americas Music Subscription Market Size, By Live, By Value, 2018H-2028F (USD Million & CAGR)
5.5 Americas Music Subscription Market Segmentation: By Platform
5.5.1 Americas Music Subscription Market, By Platform Overview
5.5.2 Americas Music Subscription Market Size, By Applications, By Value, 2018H-2028F (USD Million & CAGR)
5.5.3 Americas Music Subscription Market Size, By Web, By Value, 2018H-2028F (USD Million & CAGR)
5.6 Americas Music Subscription Market Segmentation: By End Use Industry
5.6.1 Americas Music Subscription Market, By End User Overview
5.6.2 Americas Music Subscription Market Size, By Individual, By Value, 2018H-2028F (USD Million & CAGR)
5.6.3 Americas Music Subscription Market Size, By Commercial, By Value, 2018H-2028F (USD Million & CAGR)
5.7 Americas Music Subscription Market Segmentation: By Country
5.7.1 United States Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.7.1.1 United States Music Subscription Market, By Service
5.7.1.2 United States Music Subscription Market, By Platform
5.7.1.3 United States Music Subscription Market, By End User
5.7.2 Canada Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.7.2.1 Canada Music Subscription Market, By Service
5.7.2.2 Canada Music Subscription Market, By Platform
5.7.2.3 Canada Music Subscription Market, By End User
5.7.3 Brazil Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.7.3.1 Brazil Music Subscription Market, By Service
5.7.3.2 Brazil Music Subscription Market, By Platform
5.7.3.3 Brazil Music Subscription Market, By End User
5.7.4 Rest of Americas Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.7.4.1 Rest of Americas Music Subscription Market, By Service
5.7.4.2 Rest of Americas Music Subscription Market, By Platform
5.7.4.3 Rest of Americas Music Subscription Market, By End User
6. Europe Music Subscription Market: Historic and Forecast (2018-2028)
6.1 Europe Music Subscription Market: Snapshot
6.2 Europe Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.3 Europe Music Subscription Market: Key Factors
6.4 Europe Music Subscription Market Segmentation: By Service
6.4.1 Europe Music Subscription Market, By Service Overview
6.4.2 Europe Music Subscription Market Size, By On Demand, By Value, 2018H-2028F (USD Million & CAGR)
6.4.3 Europe Music Subscription Market Size, By Live, By Value, 2018H-2028F (USD Million & CAGR)
6.5 Europe Music Subscription Market Segmentation: By Applications
6.5.1 Europe Music Subscription Market, By Applications Overview
6.5.2 Europe Music Subscription Market Size, By Applications, By Value, 2018H-2028F (USD Million & CAGR)
6.5.3 Europe Music Subscription Market Size, By Web, By Value, 2018H-2028F (USD Million & CAGR)
6.6 Europe Music Subscription Market Segmentation: By End User
6.6.1 Europe Music Subscription Market, By End User Overview
6.6.2 Europe Music Subscription Market Size, By Individual, By Value, 2018H-2028F (USD Million & CAGR)
6.6.3 Europe Music Subscription Market Size, By Commercial, By Value, 2018H-2028F (USD Million & CAGR)
6.8 Europe Music Subscription Market Segmentation: By Country
6.8.1 Germany Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.8.1.1 Germany Music Subscription Market, By Service
6.8.1.2 Germany Music Subscription Market, By Platform
6.8.1.3 Germany Music Subscription Market, By End User
6.8.2 United Kingdom Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.8.2.1 United Kingdom Music Subscription Market, By Service
6.8.2.3 United Kingdom Music Subscription Market, By Platform
6.8.2.4 United Kingdom Music Subscription Market, By End User
6.8.3 France Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.8.3.1 France Music Subscription Market, By Service
6.8.3.2 France Music Subscription Market, By Platform
6.8.3.3 France Music Subscription Market, By End User
6.8.4 Rest of Europe Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.8.4.1 Rest of Europe Music Subscription Market, By Service
6.8.4.2 Rest of Europe Music Subscription Market, By Platform
6.8.4.3 Rest of Europe Music Subscription Market, By End User
7. Asia Pacific Music Subscription Market: Historic and Forecast (2018-2028)
7.1 Asia Pacific Music Subscription Market: Snapshot
7.2 Asia Pacific Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.3 Asia Pacific Music Subscription Market: Key Factors
7.4 Asia Pacific Music Subscription Market Segmentation: By Service
7.4.1 Asia Pacific Music Subscription Market, By Service Overview
7.4.2 Asia Pacific Music Subscription Market Size, By On Demand, By Value, 2018H-2028F (USD Million & CAGR)
7.4.3 Asia Pacific Music Subscription Market Size, By Live, By Value, 2018H-2028F (USD Million & CAGR)
7.6 Asia Pacific Music Subscription Market Segmentation: By Platform
7.6.1 Asia Pacific Music Subscription Market, By Platform Overview
7.6.2 Asia Pacific Music Subscription Market Size, By Applications, By Value, 2018H-2028F (USD Million & CAGR)
7.6.3 Asia Pacific Music Subscription Market Size, By Web, By Value, 2018H-2028F (USD Million & CAGR)
7.7 Asia Pacific Music Subscription Market Segmentation: By End User
7.7.1 Asia Pacific Music Subscription Market, By End User Overview
7.7.2 Asia Pacific Music Subscription Market Size, By Individual, By Value, 2018H-2028F (USD Million & CAGR)
7.7.3 Asia Pacific Music Subscription Market Size, By Commercial, By Value, 2018H-2028F (USD Million & CAGR)
7.8 Asia Pacific Music Subscription Market Segmentation: By Country
7.8.1 China Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.1.1 China Music Subscription Market, By Service
7.8.1.2 China Music Subscription Market, By Platform
7.8.1.3 China Music Subscription Market, By End User
7.8.2 India Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.2.1 India Music Subscription Market, By Service
7.8.2.2 India Music Subscription Market, By Platform
7.8.2.3 India Music Subscription Market, By End User
7.8.3 Japan Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.3.1 Japan Music Subscription Market, By Service
7.8.3.2 Japan Music Subscription Market, By Platform
7.8.3.3 Japan Music Subscription Market, By End User
7.8.4 Rest of APAC Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.4.1 Rest of APAC Music Subscription Market, By Service
7.8.4.2 Rest of APAC Music Subscription Market, By Platform
7.8.4.3 Rest of APAC Music Subscription Market, By End User
8. Middle East & Africa Music Subscription Market: Historic and Forecast (2018-2028)
8.1 Middle East & Africa Music Subscription Market: Snapshot
8.2 Middle East & Africa Music Subscription Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
8.3 Middle East & Africa Music Subscription Market: Key Factors
8.4 Middle East & Africa Music Subscription Market Segmentation: By Service
8.4.1 Middle East & Africa Music Subscription Market, By Service Overview
8.4.2 Middle East & Africa Music Subscription Market Size, By On Demand, By Value, 2018H-2028F (USD Million & CAGR)
8.4.3 Middle East & Africa Music Subscription Market Size, By Live, By Value, 2018H-2028F (USD Million & CAGR)
8.5 Middle East & Africa Music Subscription Market Segmentation: By Platform
8.5.1 Middle East & Africa Music Subscription Market, By Platform Overview
8.5.2 Middle East & Africa Music Subscription Market Size, By Applications, By Value, 2018H-2028F (USD Million & CAGR)
8.5.3 Middle East & Africa Music Subscription Market Size, By Web, By Value, 2018H-2028F (USD Million & CAGR)
8.6 Middle East & Africa Music Subscription Market Segmentation: By End Use Industry
8.6.1 Middle East & Africa Music Subscription Market, By End Use Industry Overview
8.6.2 Middle East & Africa Music Subscription Market Size, By Individual, By Value, 2018H-2028F (USD Million & CAGR)
8.6.3 Middle East & Africa Music Subscription Market Size, By Commercial, By Value, 2018H-2028F (USD Million & CAGR)
9. Market Dynamics
9.1 Impact Assessment of Market Dynamics on the Global Music Subscription Market
9.2 Drivers
9.3 Restraints
9.4 Trends
10. Industry Ecosystem Analysis
10.1 Macro-Economic Factor Assessment
10.2 Porter Analysis
11. Competitive Positioning
11.1 Companies' Product Positioning
11.2 Market Position Matrix
11.3 Market Share Analysis of Music Subscription Market
11.4 Company Profiles
11.4.1 Spotify Technology S.A.
11.4.2 Apple Inc.
11.4.3 Amazon.com Inc.
11.4.4 Alphabet Inc.
11.4.5 Tencent Music Entertainment Group
11.4.6 Deezer S.A.
11.4.7 Sirius XM Holdings Inc.
11.4.8 Block Inc.
11.4.9 NetEase Inc.
11.4.10 Xandrie S.A.
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