The music streaming marketin North America is expected to grow from US$ 10,051.6million in 2019 to US$ 17,195.0Mn by 2027; it is estimated to grow at a CAGR of 6.7% from 2020 to 2027.
Music streaming service providers such as Apple has witnessed increase in spending on music by the Americans. The company's paid subscriber base is larger than Spotify's in the US. In context to music subscribers, Spotify always aims to convert free listeners into paid subscribers. The paid subscription services are capturing largest market share driven by the introduction of new services such as Apple Music and TIDAL.
- In terms of music subscribers, Spotify had nearly 73.2 million monthly active subscribers at the end of 2019, in North America including 30 million (Quarter 1) premium subscribers.
- Apple Music has more paying subscribers in the US than Spotify, Apple Music had 28 million paid subscribers in the US and Spotify had 26 million.
The concept of digitalization is accelerating the popularity of digital music websites. The large portfolio of music subscribers managed by music streaming service providers is supporting the growth of music streaming market across the world.
The on-demand streaming enables the consumer to retrieve large catalogue of music online with minimal subscription fee. The number of consumers from the US making payments for purchasing subscription of on-demand streaming such as Apple Music or Spotify has been increased by 28.7% in 2019.This has resulted into increased premium subscriptions and caused a revenue increase of 27.5%. Rise in the number of music subscribers has resulted into growing demand for on-demand streaming services. The promotions and popularity of family plans in digital music platforms such as Spotify, Apple, Alphabet, and Amazon has benefited the consumers.
The digital music providers are driving inventions across the consumer listening experience throughout phones, tablets, computers, and smart devices. Owing to the availability of in-vehicle infotainment systems and smart speakers in car and home arena respectively, the music streaming providers have an opportunity to propel their business. Some of the prominent on-demand music streaming platforms are Google Play Music, Spotify, Apple Music, Sound Cloud, Amazon Prime, and Tidal. In this context, companies such as Spotify and Amazon utilize ad-supported services to market their products. The strategies adopted by mentioned companies helps in gaining more subscribers. Moreover, Amazon Prime Music includes prime subscriptions which further help the company to increase its customer base. At present, the on-demand streaming is one of the most preferred services, as they use network infrastructure and on-demand audio streaming software to stream media files. Additionally, the MIDiA Research announced that in 2017, the music subscription revenue grew up to 63%. Owing to exploration in on-demand streaming, there is significant increase in the number of subscribers.
Overall size of the North America music streaming markethas been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America music streamingmarketwith respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America music streaming marketare Amazon.com, Inc., iHeartMedia Inc., Apple, Inc., and Spotify Technology S.A. are among a few players operating in the North America music streaming market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 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 North America
4.3 Ecosystem Analysis
5. Music Streaming Market - Key Market Dynamics
5.1 Key Market Drivers
 5.1.1 Rising Demand for Digital Music Streaming Websites
 5.1.2 Growing Music Subscribers Supporting the Growth of the Market
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- North America Analysis
6.1 North America Music Streaming Market Overview
 6.1.1 North America: 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 Streaming Type, 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 US: Music Streaming Market - Revenue and Forecast to 2027 (US$ Million)
 10.1.1.1 US: Music Streaming Market, by Content Type
 10.1.1.2 US: Music Streaming Market, by Streaming Type
 10.1.1.3 US: Music Streaming Market, by End User
 10.1.2 Canada: Music Streaming Market - Revenue and Forecast to 2027 (US$ Million)
 10.1.2.1 Canada: Music Streaming Market, by Content Type
 10.1.2.2 Canada: Music Streaming Market, by Streaming Type
 10.1.2.3 Canada: Music Streaming Market, by End User
 10.1.3 Mexico: Music Streaming Market - Revenue and Forecast to 2027 (US$ Million)
 10.1.3.1 Mexico: Music Streaming Market, by Content Type
 10.1.3.2 Mexico: Music Streaming Market, by Streaming Type
 10.1.3.3 Mexico: Music Streaming Market, by End User
11. Music Streaming Market - COVID-19 Impact Analysis
11.1 North America: 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
13.4 iHeartMedia Inc.
 13.4.1 Key Facts
 13.4.2 Business Description
 13.4.3 Products and Services
 13.4.4 Financial Overview
 13.4.5 SWOT Analysis
 13.4.6 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
13.6 SoundCloud
 13.6.1 Key Facts
 13.6.2 Business Description
 13.6.3 Products and Services
 13.6.4 Financial Overview
 13.6.5 SWOT Analysis
 13.6.6 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 Tidal
 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
13.9 Pandora Media, LLC
 13.9.1 Key Facts
 13.9.2 Business Description
 13.9.3 Products and Services
 13.9.4 Financial Overview
 13.9.5 SWOT Analysis
 13.9.6 Key Developments
14. Appendix
14.1 About
14.2 Word Index
LIST OF TABLES
Table 1. North America Music Streaming Market - Revenue and Forecast to 2027 (US$ Million)
Table 2. US: Music Streaming Market, by Content Type -Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Music Streaming Market, by Streaming Type -Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Music Streaming Market, by End User -Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Music Streaming Market, by Content Type - Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Music Streaming Market, by Streaming Type - Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: Music Streaming Market, by End User - Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico: Music Streaming Market, by Content Type - Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico: Music Streaming Market, by Streaming Type - Revenue and Forecast to 2027 (US$ Million)
Table 10. Mexico: Music Streaming Market, by End User - Revenue and Forecast to 2027 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. Music Streaming Market Segmentation
Figure 2. North America 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. North America
Figure 7. Ecosystem Analysis
Figure 8. Music Streaming Market: Impact Analysis of Drivers and Restraints
Figure 9. North America: 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 End-user (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. North America: Music Streaming Market Revenue Share, By Country (2019 and 2027)
Figure 20. US: Music Streaming Market - Revenue and Forecast to 2027 (US$ Million)
Figure 21. Canada: Music Streaming Market - Revenue and Forecast to 2027 (US$ Million)
Figure 22. Mexico: Music Streaming Market - Revenue and Forecast to 2027 (US$ Million)
Figure 23. Impact of COVID-19 Pandemic in North American Country
The List of Companies - North America Music Streaming Market
1. Amazon.com, Inc.
2. Apple, Inc.
3. Deezer
4. Google LLC
5. iHeartMedia Inc.
6. Pandora Media, LLC
7. SoundCloud
8. Spotify Technology S.A
9. Tidal