Music streaming can be defined as the transmission of music in compressed form via the Internet, following the retrieval and playback at the convenience and time of the user without downloading the music files. These services do not require additional storage space. Depending on the user's choice, millions of songs can be accessed. The difference between online music streaming and downloading multimedia is that a copy of the music is not saved on the hard drive. If you want to hear it again, you can easily stream it again, although some paid music streaming services allow you to choose to stream and download simultaneously. The way the streaming process works is that the audio files are transferred in small packets, so that the data is cached on your computer and read immediately. As long as a stable data packet is delivered to your computer, you can hear the sound without any interference.
Increasing internet penetration with the growing pace of digitisation, rising usage of smartphones and laptops by an overwhelming youth population, and cheaper annual subscriptions of digital music apps are the major factors for driving the growth of Global Music Streaming Market. As per the statistics, around 229 million people worldwide have streaming subscriptions in which Amazon Music topped the list with nearly 65.4% service subscriptions in the survey presented in Music Consumption-The Overall Landscape 2018. The same survey revealed that about 56.3% of the people stated exercising smartphone music listening daily, whereas laptop streaming stood at around 20%. Moreover, increase in the exclusiveness in content, with various attractive and innovative features like podcasting, originals and personalized music charts, are also driving the growth of the market.
North America is expected to remain a dominant region in the Global Music Streaming Market.
Apple, Spotify, Deezer, Google, Pandora, JOOX, Amazon Music, SoundCloud, iHeartRadio, TIDAL and more
Apple Inc. is an American multinational technology company established in 1976 headquarter in Cupertino, California. Specialties in Innovative Product Development, World-Class Operations, Retail, and Telephone Support.
Spotify is a Swedish-based audio streaming and media services provider established in 2006 and headquarter in Stockholm, Stockholm County. Specialties in audio streaming service with 299m users, including 144m subscribers across 92 markets.
Deezer is a French online music streaming service established in 2007 headquarter in Paris, Île-de-France. Specialties in Internet, Music Streaming, Music, Social Music, and Mobile.
Google, LLC is an American multinational technology company 1998 and headquarter in Mountain View, CA. Specialties in search, ads, mobile, android, online video, apps, machine learning, virtual reality, cloud, hardware, artificial intelligence, youtube, and software.
Pandora established in 2000 and headquarter in Oakland, CA. Specialties in Music Discovery & Analysis, Advertising, Ad-supported Music, Internet Radio, Recommendation Engine, Interactive, Digital, Audio Advertising, Mobile, iPhone, BlackBerry, Application, Free App, Best Engineering, User Interface Design, Software, and Algorithm.
Amazon Music is a music streaming platform and online music store operated by Amazon established in 2007.
SoundCloud is an online audio distribution platform and music sharing website established in 2007 and headquarter in Berlin, Berlin. Specialties in Technology, Mobile, Sales, Content, Internalization, Software Developer, Diversity & Inclusion, Design, Finance, Human Resources, Legal, Product Management, Data, Marketing, Community Support, Advertising, and IT.
Along with these leading players, there are number of other small and mid-sized players who are coming with huge investment and innovative product launch in the Music Streaming industry.
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05 Mar 2021