The global online music streaming market size reached USD 21.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 42.1 Billion by 2033, exhibiting a growth rate (CAGR) of 7.86% during 2025-2033. The rising adoption of smartphones, changing consumer preferences, increasing need for affordable subscription models, integration of social media platforms, expansion into emerging markets, and various partnerships and collaborations among key players are propelling the market growth.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 21.3 Billion |
Market Forecast in 2033
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USD 42.1 Billion |
Market Growth Rate (2025-2033) | 7.86% |
Online music streaming applications enable users to listen to songs in real-time using an internet connection. These applications offer an on-demand service wherein audio media files are prearranged in sequential packets of data and transmitted to smartphones, tablets, TVs and computers without saving them to the hard drive. Presently, several companies are introducing smart devices, such as Amazon’s Alexa and Google Cast, to stream music online with hands-free control and instant playback features. With the escalating demand for these smart devices, on account of rapid urbanization, inflating disposable incomes and the emergence of smart homes, the demand for online music streaming applications is escalating worldwide.
Increasing Adoption of Smartphones
The rising adoption of smartphones among people across the globe is contributing to the growth of the online music streaming market share. Users can easily download apps and access a vast library of music anytime, anywhere. This convenience eliminates the need for physical media, allowing listeners to curate their playlists on the go. Additionally, improving mobile networks are enabling high-quality streaming without interruptions. The integration of music streaming applications with social features also fosters sharing and discovery among users, further enhancing engagement. As smartphone technology continues to advance, the potential for growth in the online music streaming market remains substantial.
Shift in Consumer Preferences
Changing consumer preferences is increasing the online music streaming market share. People are shifting dramatically from physical music sales and downloads to streaming services, redefining how people consume music. This change is driven by a desire for convenience as users can access extensive libraries of songs without the need for storage or physical media. Streaming services offer the ability to discover new music through curated playlists and recommendations tailored to individual tastes. The transition to subscription-based models allows listeners to enjoy ad-free experiences and exclusive content, enhancing user satisfaction.
Affordable Subscription Models
The rising adoption of affordable subscription models is bolstering the online music streaming market growth. Many platforms offer tiered pricing including free ad-supported options and premium subscriptions making it accessible to a wide range of consumers. This flexibility allows users to choose plans that fit their budgets and listening habits, significantly expanding the potential user base. Promotional offers such as student discounts and family plans are also incentivizing subscriptions. As a result, the low barrier to entry encourages trial and fosters loyalty as users find value in the subscription experience.
IMARC Group provides an analysis of the key trends in each sub-segment of the global online music streaming market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on service, revenue model, platform, content type and end user.
Breakup by Service:
Breakup by Revenue Model:
Breakup by Platform:
Breakup by Content Type:
Breakup by End User:
Breakup by Region:
The report has also provided a comprehensive analysis of the competitive landscape in the global online music streaming market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Service, Revenue Model, Platform, Content Type, End User, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | Amazon.com Inc, ANGHAMI, Apple Inc., Gamma Gaana Ltd. (The Times Group), iHeartMedia Inc., Musixmatch, Saavn Media Pvt Ltd., SoundCloud Ltd., Spotify AB and Tencent Music Entertainment Group |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global online music streaming market was valued at USD 21.3 Billion in 2024.
We expect the global online music streaming market to exhibit a CAGR of 7.86% during 2025-2033.
The emerging trend of on-demand music, along with the introduction of smart devices, such as Amazon’s Alexa and Google cast, to stream music online with hands-free control and instant playback features, is primarily driving the global online music streaming market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of online music streaming platforms for entertainment purposes, during the lockdown scenario.
Based on the revenue model, the global online music streaming market has been segmented into subscription and non-subscription, where subscription currently holds the majority of the total market share.
Based on the platform, the global online music streaming market can be divided into app and browser. Currently, app exhibits a clear dominance in the market.
Based on the content type, the global online music streaming market has been categorized into audio and video, where audio currently accounts for the majority of the global market share.
Based on the end user, the global online music streaming market can be segregated into individual and commercial. Currently, individual holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global online music streaming market include Amazon.com Inc, ANGHAMI, Apple Inc., Gamma Gaana Ltd. (The Times Group), iHeartMedia Inc., Musixmatch, Saavn Media Pvt Ltd., SoundCloud Ltd., Spotify AB, and Tencent Music Entertainment Group.