The Latin America, Middle East and Africa Music Streaming Market would witness market growth of 18.8% CAGR during the forecast period (2020-2026).
Music apps have contributed a lot to the industry by providing millions of songs that can be purchased on the app, with a huge number of songs that can be streamed for free. Moreover, the increasing popularity of media streaming, driven by the internet and the increasing adoption of smartphones, is driving the demand for music streaming app around the globe. There are many platforms in the industry that have developed web and mobile media platforms. These services are available on different platforms like desktop, mobile apps, and web for many different operating systems.
These music streaming platforms are used to provide audio and video content across the internet without any traditionally-laid cable players. These services are primarily provided on the user’s devices like smartphones, tablets, and laptops through a wireless internet connection via apps and browsers. With the emergence of the 5G internet around the globe, streaming technologies offer a continuous listening experience, without any need to save files on a user’s personal devices that observed a substantial demand.
From the past few years, artists have opened about the unfair act of some music platforms for not giving them fair compensation. But now, some platforms are altering their policies and providing direct or indirect financial assistance to help the music community during their struggling time. Spotify has introduced a new feature, which allows artists to raise funds through their Spotify profile and YouTube is also running a campaign that allows artists to post and stream their content to their fans from home. Additionally, YouTube also allowed the fans to donate directly to the artist along with its ad-supported monetization policy.
Based on Content Type, the market is segmented into Audio and Video. Based on Platform, the market is segmented into Apps and Browsers. Based on Service Type, the market is segmented into On-demand Streaming and Live Streaming. Based on End User, the market is segmented into Individual and Commercial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon.com, Inc., Apple, Inc., Google, Inc., Tencent Music Entertainment Group (Tencent Holdings Ltd.), Spotify Technologies S.A., SoundCloud Ltd., Sirius XM Holdings, Inc. (Pandora Media, Inc.), iHeartMedia, Inc. (Thomas H. Lee Partners), Deezer S.A. (Access Industries Holdings LLC) and Aspiro AB (Tidal)
Scope of the Study
Market Segments covered in the Report:
By Content Type
By Service Type
• On-demand Streaming
• Live Streaming
By End User
• Saudi Arabia
• South Africa
• Rest of LAMEA
• Amazon.com, Inc.
• Apple, Inc.
• Google, Inc.
• Tencent Music Entertainment Group (Tencent Holdings Ltd.)
• Spotify Technologies S.A.
• SoundCloud Ltd.
• Sirius XM Holdings, Inc. (Pandora Media, Inc.)
• iHeartMedia, Inc. (Thomas H. Lee Partners)
• Deezer S.A. (Access Industries Holdings LLC)
• Aspiro AB (Tidal)
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