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Global Music On Demand Market Growth Drivers, Opportunities and Challenges 2025

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Nivedita Gore

Summary - A new market study, titled “Global Music On Demand Market – by Type, End User, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)” has been featured on WiseGuyReports.

 

Music on Demand is a music streaming service and a music distribution model that offers its users to play their song of their choice instantly for unlimited times. Certain music on demand services allow the users to listen to their service as well as create their own playlist of interest on premium or subscription basis.

Demand Scenario

The global music on demand market was USD 9.14 billion in 2018 and is estimated to reach USD 17.26 billion by 2025 at a CAGR of 9.51% during the forecast period

 

Also Read:https://starsian.com/2020/10/music-on-demand-market-2020-규모-점유율-시장-정보-회사-프로필-및-2025-년까/

 

Growth by Region

North America leads the market owing to the increase in the number of users in subscription-based services and rising music streaming among the users in the region. Although, Asia Pacific currently holds the smallest share in the market, it is anticipated to witness a maximum upsurge in its market share during the forecasted timeframe.

Driversvs Constraints

The global music on demand market is mainly driven by the growth in mobile advertisement spending due to the increased penetration of tablets, smartphones and the growing use of wearable technology and also the development of various mobile apps. Increased internet usage among users globally is also one of the factors driving the growth of the market. However, the growth is hindered by the competition among individual artists to gain the maximum number of end-users; concert ticket suppliers, as well as competition among service providers

Industry Trends and Updates

Spotify, a Swedish-based music streaming company had been approached by an unnamed Abu Dhabi sovereign wealth fund as well as Goldman Sachs Group during its seventh funding round and got invested by the two firms raising USD 400 million and valuing the company at USD 8.4 billion.

Sirius XM, a US-based satellite radio broadcasting company had announced its definitive agreement with Pandora Media Inc. to acquire the company for USD 3.5 billion deal by early next year as a move to form the world’s largest audio entertainment company.

FOR MORE DETAILS:https://www.wiseguyreports.com/reports/3981802-global-music-on-demand-market-by-type-end

 

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Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.               

 

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Nivedita Gore
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