Music Streaming Market Size To Reach $108.39 Billion By 2030

Music Streaming Market Growth & Trends

The global music streaming market size is estimated to reach USD 108.39 billion by 2030, registering to grow at a CAGR of 14.9% from 2025 to 2030 according to a new report by Grand View Research, Inc. The market growth is attributed to the rising popularity of music streaming platforms and the growing disposable income of individuals. The trend of implementing a dual revenue model by providing free trial options and paid subscriptions that help consumers choose their service depending on their requirements is driving the market growth further. In addition, they offer various advantages including an ad-free experience and offline listening capabilities.

These emerging trends by key players are anticipated to stimulate the expansion of the market. Furthermore, there is a significant rise in the popularity of cloud-based music as companies are focused on the development of user-friendly applications that facilitate seamless music streaming on portable devices like tablets and smartphones. Integrating the cloud element into music streaming platforms allows companies to enhance their services by providing advantages, such as streaming across multiple devices and efficient storage utilization, which is expected to drive market growth over the forecast period.

Key companies are focusing on launching new products and offerings to serve the large customer base and strengthen their foothold in the industry. For instance, in May 2023, SoundCloud Global Limited & Co. KG partnered with Merlin Limited, a music licensing partner company. The partnership aimed to support Merlin members and affiliated artists, enabling them to actively engage in SoundCloud’s Fan-Powered Royalties (FPR) model. Through implementing FPR, the company aims to prioritize a user-centric approach that ensures artists get royalties based on the tunes that appeal to their unique fan bases. Such developments by key companies are expected to augment the growth of the overall market in the years to come.

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Music Streaming Market Report Highlights

• The on-demand streaming segment accounted for the largest market share of over 70% in 2024.

• The apps segment accounted for the largest market share in 2024. The increase in app-based music consumption is driven by convenience, portability, and the fact that many platforms offer exclusive content or features that are only available through their apps.

• The audio segment accounted for the largest market share in 2024, owing to the long-standing popularity of music as an audio-based medium.

• The individual segment accounted for the largest market share in 2024. The growing popularity of music streaming among younger generations, who are integrating music into their daily lives, is a major driver.

Music Streaming Market Segmentation

Grand View Research has segmented the global music streaming market based on service, platform, content, end-use, and region:

Music Streaming Service Outlook (Revenue, USD Million, 2018 - 2030)

• On-demand streaming

• Live streaming

Music Streaming Platform Outlook (Revenue, USD Million, 2018 - 2030)

• Apps

• Browsers

Music Streaming Content Outlook (Revenue, USD Million, 2018 - 2030)

• Audio

• Video

Music Streaming End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Individual

• Commercial

Music Streaming Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

    Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players in Music Streaming Market

• Spotify AB

• Apple, Inc. (Apple Music)

• Amazon.com, Inc. (Amazon Music)

• Deezer SA

• Pandora Media, Inc.

• Tencent Music Entertainment Group

• Tidal

• SoundCloud Global Limited & Co. KG

• iHeartMedia, Inc.

• YouTube Music