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 userbases.
Browse the full report description of "European Online Music Streaming Market Size, Share & Trends Analysis Report by Service (On-demand Streaming and Live Streaming), By Content Type (Audio Streaming and Video Streaming), By Platform (Browser and Application), By End User (Residential & Commercial), By Revenue Model (Subscription & Advertisement) Forecast Period 2020-2026" at https://www.omrglobal.com/industry-reports/european-online-music-streaming-market
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 userbase, and a clear sign of significant growth. Furthermore, the availability of regional content, as well as the increasing popularity of live streaming platforms, are also fuelling the market growth.
Market Coverage
o By Service
o By Content-Type
o By Platform
o By End-User
o By Revenue Model
o Europe
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
European Online Music Streaming Market Report Segment
By Service
By Content-Type
By Platform
By End-User
By Revenue Model
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