Asia Pacific Music Streaming Market Forecast to 2027- Covid-19 Impact and Analysis - by Content Type (Audio Streaming, Video Streaming), Streaming Type (Live Streaming, On-demand Streaming), End User (Commercial, Individual), and Country
The music streaming market in Asia Pacific was valued at US$ 6,963.5 Mn in 2019 and is projected to reach US$ 13,975.9 Mn by 2027; it is expected to grow at a CAGR of 8.9% from 2020 to 2027.
The scope of the digital music streaming websites is taking over the musical scenario. Owing to the availability of cloud technology, regional music offerings, increased smartphone adoption, advanced streaming applications, and lesser cost of data are some of the major aspects transforming the entire landscape of music streaming. Spotify, Apple Music, Deezer, Amazon Music Unlimited, and YouTube Music are some of the prominent online music streaming services prevailing in the market. The application of music platforms is majorly adopted within the age group up of 18to 30years, as the individuals of this group are willing to invest high value on music streaming. Targeting new demographics would potentially raise service subscriptions and revenue of the providers.
Factors such as demand for multiple digital music platforms and rising number of music subscribers will drive the growth of Asia Pacific Music Streaming Market. Additionally, consistent increase in on-demand streaming and availability of regional content on digital platforms will help the market to further grow and provide growth opportunities to the providers prevailing in the music streaming market. On the contrary, due to the availability of pirated channels and free music platforms, the number of subscribers might decline and can negatively impact on the music streaming market. Furthermore, many music streaming service providers offer an unpaid trial period to gain traction of more individuals. Additionally, to remain competitive in the market, timely updates and advancements are made in the digital music platform by the music streaming service providers to sustain in the market. For instance, Amazon provides high-quality tier, known as Amazon Music HD, in a bid for the Tidal’s audiophile niche quality sound.
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 APAC 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 APAC, 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.
The government of Asia Pacific countries is taking possible steps to reduce the effects of coronavirus pandemic by announcing lockdown. China was the first country with COVID -19 confirmed cases. However, China has emerged from a 2-month containment phase and moved into the mitigation stage. The COVID-19 outbreak in China negatively impacted Tencent Music Entertainment, China’s largest online music business. However, due to the containment phase, the significantly gained profit due to the increase in the number of paid subscribers. The subscription was traditionally not a dominant business model for Tencent Music Entertainment. So, the acceleration in paying subscriber numbers was welcomed by the company’s management. They rose 70% YoY to reach 42.7 million at the end of March, now representing 6.5% of the company’s monthly users.
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APAC Music Streaming Market Segmentation
APAC Music Streaming Market, by Content Type
- Audio Streaming
- Video Streaming
APAC Music Streaming Market, by Streaming Type
- Live Streaming
- On-Demand Streaming
APAC Music Streaming Market, by End-User
APAC Music Streaming Market, by Country
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
APAC Music Streaming Market-Companies Mentioned
- Amazon.com, Inc
- Google LLC
- Deezer
- Apple, Inc.
- Spotify Technology S.A.
- JOOX
TABLE OF CONTENTS
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 APAC
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– APAC Analysis
6.1 APAC Music Streaming Market Overview
6.1.1 APAC: 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 End-User, 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 Australia: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Australia: Music Streaming Market, by Content Type
10.1.1.1.2 Australia: Music Streaming Market, by Streaming Type
10.1.1.1.3 Australia: Music Streaming Market, by End User
10.1.1.2 China: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 China: Music Streaming Market, by Content Type
10.1.1.2.2 China: Music Streaming Market, by Streaming Type
10.1.1.2.3 China: Music Streaming Market, by End User
10.1.1.3 India: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 India: Music Streaming Market, by Content Type
10.1.1.3.2 India: Music Streaming Market, by Streaming Type
10.1.1.3.3 India: Music Streaming Market, by End User
10.1.1.4 Japan: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 Japan: Music Streaming Market, by Content Type
10.1.1.4.2 Japan: Music Streaming Market, by Streaming Type
10.1.1.4.3 Japan: Music Streaming Market, by End User
10.1.1.5 South Korea: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 South Korea: Music Streaming Market, by Content Type
10.1.1.5.2 South Korea: Music Streaming Market, by Streaming Type
10.1.1.5.3 South Korea: Music Streaming Market, by End User
10.1.1.6 Rest of APAC: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of APAC: Music Streaming Market, by Content Type
10.1.1.6.2 Rest of APAC: Music Streaming Market, by Streaming Type
10.1.1.6.3 Rest of APAC: Music Streaming Market, byEnd User
11. Music Streaming Market - COVID-19 Impact Analysis
11.1 Asia-Pacific: 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
13.7 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
13.8 JOOX
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Australia: Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 3. Australia: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. Australia: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 5. China: Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 6. China: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. China: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 8. India: Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 9. India: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. India: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 11. Japan: Music Streaming Market, By Content Type – Revenue and Forecast to 2027 (US$ Million)
Table 12. Japan: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. Japan: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 14. South Korea: Music Streaming Market, By Content Types – Revenue and Forecast to 2027 (US$ Million)
Table 15. South Korea: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 16. South Korea: Music Streaming Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 17. Rest of APAC: Music Streaming Market, By Content Type – Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of APAC: Music Streaming Market, By Streaming Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of APAC: Music Streaming 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. APAC 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. APAC
Figure 7. Ecosystem Analysis
Figure 8. Music Streaming Market: Impact Analysis of Drivers and Restraints
Figure 9. APAC: 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 Streaming Type (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. APAC: Music Streaming Market Revenue Share, By Country (2019 and 2027)
Figure 20. Australia: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. China: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. India: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Japan: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. South Korea: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Rest of APAC: Music Streaming Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in Asia Pacific Country
- Amazon.com, Inc
- Google LLC
- Deezer
- Apple, Inc.
- Spotify Technology S.A.
- JOOX
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC music streaming market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the APAC music streaming market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.