Europe Music Streaming Market to Grow at a CAGR of 5.5% to reach US$ 9,812.3 Million from 2020 to 2027
The music streaming market in Europe was valued at US$ 6,260.2 Mn in 2019 and is projected to reach US$9,812.3 Mn by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.
Europe includes various well-established economies such as France, Germany, Russia, the UK, and Italy. The trend of low-cost video &music-on-demand subscriptions is assisting in boosting the Europe Music Streaming Market growth. Soundtrack Your Brand, Auraclesound, Kasimu, and Soundreef are some of the music streaming companies offering platforms for businesses and stores. Spotify’s biggest territory is Europe and the company is looking ahead to add more users from the region. The company had nearly 232 million both active and subscription users in its portfolio by quarter II in 2019 out of which 83.5million were located in Europe. Moreover, the citizens of Europe spend nearly 5% on subscriptions. The consumer spends average 130 euros on monthly basis for subscribing music, video, sports or food. Annually, 350 billion euros are spent within the region on these types of purchases.- There are over 230 digital music services available throughout the region.
- Music videos are heavily watched on You Tube. From 9 of top 10 most watched videos, music videos holds a largest share.
- The region recorded music revenues of $6.02 billion in 2018. The streaming revenue raised to $2.67 billion.
- The paid subscription for audio streaming services represents 78.9% of total streaming revenues.
Along with the introduction of digital and cloud system, the scope of music streaming platforms and on-demand streaming has flourished with user inflow. Continuous technological developments are taking place across the world with an aim to cater music subscribers in a better manner. The subscription model is creating a significant impact on the development of Europe music streaming market. The music streaming service providers are offering region-specific original music to gain attention of customers and to multiply the number of subscriptions. With booming penetration of music streaming in various countries of the EU, the need to have regional content is flourishing. As the music streaming services are accessible on various platforms for cross-device access, the scope of on-demand streaming is anticipated to benefit Amazon, Gaana.com, and Spotify. The increasing adoption of on-demand streaming will encourage the music streaming service providers to offer an option of regional content.
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Europe Music Streaming Market Segmentation
Europe Music Streaming Market, by Content-Type
- Audio Streaming
- Video Streaming
Europe Music Streaming Market, by Streaming Type
- Live Streaming
- On-Demand Streaming
Europe Music Streaming Market, by end-user
Europe Music Streaming Market, by Country
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
Europe Music Streaming Market-Companies Mentioned
- Amazon.com, Inc
- Google LLC
- Deezer
- Apple, Inc
- SoundCloud
- Spotify Technology S.A.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Content Type, Streaming Type, End User, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Music Streaming Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
5. Music Streaming Market – Key Market Dynamics
5.1 Key Market Driver
5.1.1 Rising Demand for Digital Music Streaming Websites
5.2 Key Market Restraints
5.2.1 Accessibility of Free Digital Music Platforms
5.3 Key Market Opportunities
5.3.1 Rise in On-Demand Streaming
5.4 Future Trends
5.4.1 Growing Penetration of Online Music Streaming
5.5 Impact Analysis of Drivers and Restraints
6. Music Streaming Market– Europe Analysis
6.1 Europe Music Streaming Market Overview
6.1.1 Europe: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
6.2 Market Positioning – Five Key Players
7. Music Streaming Market Analysis – By Content Type
7.1 Overview
7.1.1 Music Streaming Market Breakdown, by Content Type, 2019 & 2027
7.2 Audio Streaming
7.2.1 Overview
7.2.2 Audio Streaming Market Revenue and Forecast to 2027 (US$ Million)
7.3 Video Streaming
7.3.1 Overview
7.3.2 Video Streaming Market Revenue and Forecast to 2027 (US$ Million)
8. Music Streaming Market Analysis – By Streaming Type
8.1 Overview
8.2 Music Streaming Market Breakdown, by Streaming Type, 2019 & 2027
8.3 Live Streaming
8.3.1 Overview
8.3.2 Live Streaming Market Revenue and Forecast to 2027 (US$ Million)
8.4 On-Demand Streaming
8.4.1 Overview
8.4.2 On-demand Streaming Market Revenue and Forecast to 2027 (US$ Million)
9. Music Streaming Market Analysis – By End User
9.1 Overview
9.2 Music Streaming Market Breakdown, by Streaming Type, 2019 & 2027
9.3 Commercial
9.3.1 Overview
9.3.2 Commercial Market Revenue and Forecast to 2027 (US$ Million)
9.4 Individual
9.4.1 Overview
9.4.2 Individual Market Revenue and Forecast to 2027 (US$ Million)
10. Music Streaming Market Revenue and Forecast to 2027 –Country Analysis
10.1 Overview
10.1.1.1 Germany: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Germany: Music Streaming Market, by Content Type
10.1.1.1.2 Germany: Music Streaming Market, by Streaming Type
10.1.1.1.3 Germany: Music Streaming Market, by End User
10.1.1.2 France: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 France: Music Streaming Market, by Content Type
10.1.1.2.2 France: Music Streaming Market, by Streaming Type
10.1.1.2.3 France: Music Streaming Market, by End User
10.1.1.3 Italy: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Italy: Music Streaming Market, by Content Type
10.1.1.3.2 Italy: Music Streaming Market, by Streaming Type
10.1.1.3.3 Italy: Music Streaming Market, by End User
10.1.1.4 UK: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 UK: Music Streaming Market, by Content Type
10.1.1.4.2 UK Music Streaming Market, by Streaming Type
10.1.1.4.3 UK: Music Streaming Market, by End User
10.1.1.5 Russia: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 Russia: Music Streaming Market, by Content Type
10.1.1.5.2 Russia Music Streaming Market, by Streaming Type
10.1.1.5.3 Russia: Music Streaming Market, by End User
10.1.1.6 Rest of Europe: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of Europe: Music Streaming Market, by Content Type
10.1.1.6.2 Rest of Europe Music Streaming Market, by Streaming Type
10.1.1.6.3 Rest of Europe: Music Streaming Market, by End User
11. Music Streaming Market - COVID-19 Impact Analysis
11.1 Europe: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
13. Company Profiles
13.1 Amazon.com, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Google LLC
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Deezer
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.5 Apple, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 SoundCloud
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Spotify Technology S.A.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Europe Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Germany Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 3. Germany Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. Germany Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 5. France Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 6. France Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. France Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 8. Italy Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 9. Italy Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. Italy Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 11. UK Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 12. UK Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. UK Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 14. Russia Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 15. Russia Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 16. Russia Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 17. Rest of Europe Music Streaming Market, By Content Type – Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of Europe Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of Europe Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. Music Streaming Market Segmentation
Figure 2. Europe Music Streaming Market Overview
Figure 3. Audio Streaming Segment Held the Largest Share During Forecast Period
Figure 4. On-demand Streaming Segment Dominated the Market
Figure 5. Individual Segment to Show Great Traction During Forecast Period
Figure 6. Europe
Figure 7. Ecosystem Analysis
Figure 8. Music Streaming Market: Impact Analysis of Drivers and Restraints
Figure 9. Europe: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. Music Streaming Market Breakdown, by Content Type (2019 and 2027)
Figure 11. Audio Streaming Market Revenue and Forecast to 2027 (US$ Million)
Figure 12. Video Streaming Market Revenue and Forecast to 2027 (US$ Million)
Figure 13. Music Streaming Market Breakdown, by End-user (2019 and 2027)
Figure 14. Live Streaming Market Revenue and Forecast to 2027(US$ Million)
Figure 15. On-demand Streaming Market Revenue and Forecast to 2027(US$ Million)
Figure 16. Music Streaming Market Breakdown, by End-user (2019 and 2027)
Figure 17. Commercial Market Revenue and Forecast to 2027(US$ Million)
Figure 18. Individual Market Revenue and Forecast to 2027(US$ Million)
Figure 19. Europe : Music Streaming Market Revenue Share, By Country (2019 and 2027)
Figure 20. Germany: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. France: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Italy: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. UK: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Russia: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Rest of Europe: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in Europe Country
- Amazon.com, Inc
- Google LLC
- Deezer
- Apple, Inc
- SoundCloud
- Spotify Technology S.A
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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