Home Music Industry News Music Streaming Market Expected to Continue Rising

Music Streaming Market Expected to Continue Rising


Music Streaming Market Expected to Continue RisingAccording to the report Global Music Streaming Service Market 2015-2019 major music recording firms such as “Universal Music Group, Warner Music Group, and Sony Music Entertainment” have adopted corporate strategies such as M&A, strategic alliances, and partnerships in order to revitalize their market presence. For instance, Sony has collaborated with Spotify to launch PlayStation Music. Sony’s Music Unlimited closed on March 29, 2015 and was replaced by Spotify’s 1.5 billion playlists. Also, in August 2014, Apple acquired the music streaming service from Beats Music for $3 billion. Hence, an upsurge in market consolidation is increasing the presence and reach of the market.

The Global Music Streaming Service Market 2015-2019 report spreads across 76 pages at http://www.rnrmarketresearch.com/global-music-streaming-service-market-2015-2019-market-report.html. The report provides 26 List Of Exhibits and also provides vendor landscape.
Analysts forecast the global music streaming service market to grow at a CAGR of 12.57% over the period 2014-2019. The report considers the revenue generated from the streaming music services. This includes both ad-based and ad-free services. The report consolidates the revenues generated from the following devices: Smartphones/tablets and PCs/laptops. According to the report, increased integration of streaming applications with social media platforms such as Facebook has increased music subscriptions significantly. For instance, the collaboration between Spotify and Facebook allows new Spotify users to access the application via Facebook and share custom playlists with their friends. Spotify’s freemium business model is aimed at encouraging free users to migrate to premium paid services while ensuring their sustainability, helping the market gain momentum.
The US leads the music streaming market, accounting for more than half of the market share. In the EMEA region, countries such as UK, France, Sweden, Russia, and Germany are the key contributors to online streaming revenues. The market in the APAC region is still at a growing stage. It is expected to grow substantially during the forecast period on account of the rising popularity of mobile music streaming in the region.
The report recognizes the following companies as the key players in Global Music Streaming Service Market 2015-2019: Apple Inc., Deezer, iHeart Media Inc., Pandora Media Inc., Rdio Inc., Spotify Ltd. and Google Inc. Other Prominent Vendors in the market are: CBS, Clear Channel Radio, Gaana.com, Grooveshark, Guvera, Hungama, JB Hi-Fi, Line, Microsoft, Mixcloud, News, RadioTime, Rara, Rhaposody, Saavn, Samsung Music Hub, Slacker and SoundCloud.
Further, the report states that issues with data security is one of the major challenges for the market.

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