Globalization of music streaming services to fuel the revenue generation
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global digital music content market in their latest research report. This report also lists 15 11 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from the digital music content market by different regions.
This Technavio report, under the media and entertainment vertical, is based on the synthesis, analysis, and interpretation of information about the global digital music content market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
Even though dominated by a few prominent vendors, the global digital music content market is highly competitive. Vendors in the market compete on the basis of online and offline streaming, collection song portfolio, and subscription fee. Innovations in technology among the leading vendors plays a vital role in the growth of the global market. To sustain in the competitive market and expand their footprint, vendors are resorting to M&A as well as strategic alliances. Such an approach enables vendors to increase their market shares, gather new domain-specific knowledge, venture into new markets, improve profitability, lower operational costs, and expand their audience reach.
“Development of technological infrastructure is transforming music streaming services into a global service. Key vendors, primarily in the US, Japan, and Sweden are investing heavily in research and directing their efforts to acquire a larger share of the market through technological advances. The growth aspects of these music streaming services look positive as a number of emerging countries are entering the market,” says Ujjwal Doshi, a lead analyst at Technavio for research on media and entertainment
Top five vendors in the digital music content market space
Apple
The company’s key product offerings are classified under the accessories, iPads, iPhones, iTunes, Mac PCs, software and services, and iPod segments. It also offers iOS, OS X, and various application software services including iWork and iLife, and Apple TV. In addition, it distributes third-party digital content and applications through its iTunes Store and App Store. The company invests heavily in R&D, $3.4 billion in 2012 and $4.5 billion in 2013, to develop innovative products and solutions. According to Forbes, as of May 2015, the company was the world’s most valuable brand among 2,000 global companies. It is also the largest publicly traded company in terms of revenue with $234 billion as of 2015.
Deezer
Deezer is a free online music streaming company that provides hardware and software capabilities to its customers for downloading music. The company offers digital music streaming service in over 180 countries and has 6.3 million paid subscribers and 16 million monthly active users worldwide in 2015. Deezer provides access to one of the largest music catalogues in the world, more than 35 million songs and 30,000 radio channels from all over the world. The company provides services through its DEEZER application for cell phones, PCs, tablets, TVs, cars, and hi-fi devices.
Google has established itself as a search engine giant as well as in advertising, enterprise, hardware products, operating systems, and platforms. Online advertising and hardware products are two of its high income-generating operations. The company provides services in more than 100 languages and in more than 50 countries. In 2015, the Alphabet was established as a parent company of Google and its subsidiaries. Google’s R&D sector focuses on developing new products and services and to enhance its existing portfolio.
iHeartMedia
It is a leading global media entertainment company offering radio, digital, out-of-home, mobile, and on-demand entertainment and information services. The company was formerly known as CC Media Holdings. The other businesses operated by the company include Premier Networks; a national radio network that produces, distributes, and represents approximately 90 syndicated radio programs and serves about 5,000 radio station affiliates; Total Traffic and Weather Network, provider of information services; and LAN International, provider of enterprise solutions and support for cable and broadcast companies.
Spotify
Spotify is a commercial music streaming service provider. It offers various features that function well on all smart devices and home entertainment systems. The key services of the company help subscribers to search and discover music collections. It also provides on-demand access to more than 20 million tracks. The company is available in 57 markets worldwide with over 40 million active users and 10 million subscribers. It also provides services such as advertising, community support, customer service and support as well as repair and maintenance. Some of the key partners of the company include Amazon, Argon, LG, Nocs, Sony, Philips, REVO, Panasonic, Pioneer, Denon, and Blue Sound.
Other prominent vendors in this market include CBS, Clear Channel Radio, Gaana.com, Grooveshark, Guvera, Hungama MyPlay, JB Hi-Fi Pty, Line, Mixcloud, News, RadioTime, Rara, Rhapsody, Saavn, and SoundCloud.
A more detailed analysis is available in the Technavio report, Global Digital Music Content Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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Browse related reports:
- Global Music Streaming Market 2016-2020
- Global Digital Content Market 2015-2019
- Global Mobile Music Streaming Market 2015-2019
- Global Cloud Mobile Music Services Market 2015-2019
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