LG G6 review Samsung Galaxy S8 Apple iPhone X Samsung Galaxy Note 8 HTC U 11 Sony Xperia L1
LG G6 review Samsung Galaxy S8 Apple iPhone X Samsung Galaxy Note 8 HTC U 11 Sony Xperia L1
Apple iPhone
Powered by True
Counted by OneStat.com
Mark Peters : August 27th 2017 - 02:40 CET

Music streaming is big business

Digital Review Test Appareil Photo Numerique Prueba camara digital Camera Review Dijital Kamera Incelemeleri Digitalkamera Test Digitalkamera
Technavio ReportsWhat's going on in the online music streaming services? : UK-based Technavio has published a new report on the global online music streaming market. The in-depth industry report identifies Apple, Deezer, Spotify, Google, iHeartMedia and Pandora Media, and as the key vendors in the worldwide music streaming market. The research report also presents a competitive analysis of the market by streaming type (paid music streaming and free music streaming), by user (commercial / individual users), and by geography location. According to their report, Technavio analysts forecast the global music streaming market to grow at a CAGR of over 14% during 2017-2021. The increased penetration of smart devices such as tablets and mobile phones is one of the major driving forces for the growth in the music streaming business.
Music streaming business

Music streaming business
The newly released research study covers the present scenario and growth prospects of the global music streaming market for 2017-2021. The music streaming business is likely to experience high growth during the forecast period.

This growth may also be attributed to the new innovative features offered by music streaming service providers, which allow consumers uninterrupted access to music collections without the need for downloading the soundtrack. Consumers around the world can legally access high-quality music songs for free for a pre-defined period or by paying a nominal subscription fee.

Analysts and experts at Technavio highlight three factors that are contributing to the growth of the music streaming business: High growth in mobile advertising spending market, increased use of smartphone applications and increasing number of subscription services.

Penetration of smartphones

Penetration of smartphones and tablets
Mobile advertising is currently one of the most popular methods of advertising. The increased market penetration of mobile phones and tablets worldwide is one of the major driving forces for the growth of digital music business.

Vendors of online streaming platforms also offer free downloading and streaming services for mobile devices. Spending more money on mobile advertising is one of the major sources of revenue for digital music service providers, which in turn supports the growth of the music streaming market.

Mobile devices are now being equipped with more personalized services, such as location-based technology, which can help in segmenting potential customers for marketing purposes. This will help vendors to target their audiences with customized music playlists.

Music streaming subscription services

Music streaming subscription services
The subscription services for digital music and streaming are becoming increasingly popular among users. Many music streaming apps have started to provide social media integration services allowing them to personalize music preferences and content.

Online music streaming providers such as Spotify, SoundCloud, and Wynk are also linked to social media platforms such as Facebook, and users can share music and playlists with others music lovers.

Online music streaming applications and services are also adopting the freemium business model that aims at converting free users to premium services while ensuring sustainability. Free users usually migrate to access unlimited and uninterrupted content, which leads to an increase in subscription services and results in the growth of the music streaming market on the whole.

Mobile streaming apps

Mobile streaming apps
The global market for mobile apps is growing rapidly. Most of the service providers are developing their mobile app to provide ease of access and usage to customers. Music streaming service providers initially offered music services through their websites only.

With the growing adoption of smartphones and the consequent increase in mobile app downloads, most of the songs and music albums are now available in-app for streaming and downloading. This provides easy payment options for subscriptions to digital content, which attracts and retains many customers.

   Next  Music streaming market report 2017
   Previous  Wearable Device market report 2017
   News by brand:Technavio Reports
   News by category:Interviews & Market research
   News by brand and category:Technavio Reports Interviews & Market research

Android smartphone
Latest Technavio Reports announcements
Flash memory market forecast
Rugged smartphone trends
Market forecast for Alkaline batteries
Smartphone report shows 6% growth
Digital Camera market forecast report
Rugged handheld devices market report 2017
Smartwatch market report 2017
Latest news headlines
BlackBerry smartphone with keyboard surfaces
Nintendo 3DS XL SNES Classic edition
Apple Pay Cash coming to Europe
Dutch startup will change Li-Ion battery industry
Popular holiday toys in 2017
Huawei Mate 10 Pro specs surface
Samsung Premier Cinema LED screen
Panasonic Lumix GH5 review with firmware v2.0
Sony PlayStation VR headset released
Huawei EnVizion 360 VR Camera
New BlackBerry phone coming up
Honor 6C Pro surfaces
Huawei Pay mobile payment service for United States
Full-grain leather iPhone X cases from Dutch vendor
GoPro Fusion 360 degree camera to launch at CES 2018
  5G Accessories Android Galaxy iPhone Rumors Premium smartphones Camera Camera test Nikon SLR Underwater photography   CES CeBIT IFA Photokina PMA