Music Streaming Market Size & Share, by Service Type (On-demand Streaming, Live Streaming); Platform (Apps, Browsers); Content Type (Audio, Video); End-user (Individual, Commercial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4383
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Music Streaming Market size is expected to cross USD 25 Billion by the end of 2033, growing at a CAGR of 15% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of music streaming was over USD 20 Billion.The primary growth factors of the market are attributed to the expansion of the music industry and a rise in the number of music streaming subscribers across the world. Latest reports suggest that the number of music streaming users soared from nearly 300 million in 2019 to 525 million in 2021 worldwide.

The increasing emphasis on curating platforms where people can browse music videos, podcasts, and stream videos is expected to boost the market during the assessment period. The high involvement of people in the music industry is thus forecasted to fuel the market growth. In the United States, there are approximately 105,000 musical groups and music artist employees as of 2022, with an annual employment growth of 4% from 2017 to 2022.

Music Streaming Market
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Music Streaming Sector: Growth Drivers and Challenges

Growth Drivers

  • Growth in the Music Industry – Music streaming services allows the users various benefits such as seamless music streaming every minute, hassle-free accessibility, personalized customization, free trials and many others. All the great features are forecasted to propel the market growth which is further anticipated to expand the music streaming market size in the future. Latest reports suggest that the global music industry gathered almost USD 29 billion in 2021, an increment from 2018 with USD 18 billion.
  • Increased Preference of Streamed Music – The modern music community has been focusing on offering a personalized experience with high-quality music preferences as per the user. This has pushed users to consume streamed music, which is forecasted to bring lucrative opportunities for the key players in the market. As per calculations done in 2022, it was estimated that approximately 80% of the global population listens to music using music streaming services.
  • Penetration of Smart Phones – The latest reports stated that in 2021, there were almost 15 billion mobile devices operating worldwide, up from 14 million in the previous year. This number is further expected to surpass 18 billion by 2025.
  • Rising Digitization – Recently, it has been estimated that 60% of global gross domestic product (GDP) is anticipated to be digitized by 2022. Also, till 2018, companies all over the world have invested more than 1 trillion in digital transformation efforts.


  • Privacy and Security Concerns – People need to subscribe to music streaming platform by entering personal data. This generates the concerns related to data invasion and hacks. Thus, the increased cyber hacking and cyber-attacks cases is expected to hamper the market growth.
  • Rising Copy-right Issues
  • Digital Gap in Various Areas

Music Streaming Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 20 Billion

Forecast Year Market Size (2033)

~ USD 25 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Music Streaming Segmentation

Service Type (On-demand Streaming, Live Streaming)

The global music streaming market is segmented and analyzed for demand and supply by service type into on-demand streaming and live streaming. Out of these, the on-demand streaming segment is attributed to garner the highest market share by 2033, owing to its high demand among the population. On-demand streaming music is rising among the new generation owing to its latest and demand among themselves. Recent data from 2022 stated that in the United States there are almost 82 million paid subscribers to on-demand music streaming.

Our in-depth analysis of the global market includes the following segments:

     By Service Type

  • On-demand Streaming
  • Live Streaming

     By Platform

  • Apps
  • Browsers

    By Content Type

  • Audio
  • Video

     By End-User

  • Individual
  • Commercial

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Music Streaming Industry - Regional Synopsis

The North America market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The primary growth factor of the music streaming market in the region is attributed to the presence of major key players. Further, the rise in music streaming users in the region is considered to be another growth factor in the market. The latest statistics revealed that the music streaming segment in the United States is estimated to have around 155 million users by 2027. The user penetration in the region was also calculated to be 35% in 2022, which is forecasted to hit 45% by 2027. Additionally, the increased preference for listening to music among the population is expected to bring in growth opportunities in the market. As per a latest report published in 2022, it was calculated that Americans stream almost one trillion songs per year.

Research Nester
Music Streaming Market Size
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Companies Dominating the Music Streaming Landscape

    • Spotify
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Aspiro AB
    • SoundCloud, Inc. and Repost Network Inc.
    • Google LLC
    • Tencent Music Entertainment Group
    • Apple Inc.
    • Pandora Media, LLC
    • Deezer
    •, Inc.
    • TuneIn, Inc.


In The News

  • Spotify and Samsung’s partnership has allowed the users to connect their devices for a seamless musical experience. Galaxy Watch5, Galaxy Watch5 Pro, and Galaxy Buds2 are enabled with Spotify Tap that allows you connect and stream music effortlessly.

  • SoundCloud, Inc. and Repost Network Inc. has acquired Musiio, to expand the company’s existing music intelligence capabilities and allow to further leverage its vast data to identify what’s next in music trends and talent.

Author Credits:  Abhishek Verma, Hetal Singh

  • Report ID: 4383
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The expansion of music industry along with music streaming users are some of the factors that are expected to propel the market.

The market is anticipated to attain a CAGR of ~15% over the forecast period, i.e., 2023-2033.

The rising concern of security and privacy coupled with fluctuation in network connectivity and increased copyright issues are some of the factors that are expected to hamper the market.

The market is North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Spotify, Aspiro AB, SoundCloud, Inc. and Repost Network Inc., Google LLC, Tencent Music Entertainment Group, Apple Inc., Pandora Media, LLC, Deezer,, Inc., TuneIn, Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by service type, platform, content type, end users and by region.

The individual segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Music Streaming Market Report Scope

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