The European online music streaming market is anticipated to grow at a considerable CAGR during the forecast period (2020-2026). High smartphone penetration and high disposable income are some of the major factors for the growth of the market in the region. In addition, promotional offers such as discounts on premium subscription and free monthly trials are also boosting the market growth. Some platforms are providing free services with ads or an option to choose premium subscriptions, which is allowing users to easily switch to online streaming. Further, the huge array of the album, songs, and podcasts on these platforms and the use of AI & machine learning to customize a playlist and provide song recommendation is attracting a lot of young user bases.
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Besides, in 2020, due to the COVID-19 pandemic, most countries have declared lockdowns. This pushed people to opt for online streaming services. According to France-based Deezer SA, earlier 80% of the revenue was Telco-driven, of which the majority was coming from France. Now in 2020, 75% of the revenues are coming from self-pay subscribers, and France is less than 50% of revenues. Indicating a dramatic shift of user base, and a clear sign of significant growth. Furthermore, the availability of regional content, as well as the increasing popularity of live streaming platforms, is also fuelling the market growth.
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Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
- By Service
- By Content-Type
- By Platform
- By End-User
- By Revenue Model
- Regions Covered- Europe
- Competitive Landscape- Amazon.com, Inc., Apple, Inc., Deezer SA, Google LLC., Spotify AB
Key questions addressed by the report
- What is the market growth rate?
- Which segment and country dominate the market in the base year?
- Which segment and country will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Online Music Streaming Market Report Segment
By Service
- On-Demand streaming
- Live Streaming
By Content-Type
- Audio Streaming
- Video Streaming
By Platform
- Browsers
- Applications
By End-User
- Residential
- Commercial
By Revenue Model
- Subscription
- Advertisement
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
