On-demand streaming will have 19.8% compound annual growth rate (CAGR) through 2026, according to an new analysis by PMR. YouTube and its massive audience remains the wild card. Will more YouTube users pay for music – including via its own recently launched subscription service – or are it and Spotify’s free service enough?
“The North America music streaming market is expected to dominate the global music streaming market due to high adoption of digital music in the U.S., availability of resources for offering advanced music streaming experience to the end-users, and high disposable income of the end-users, in the region. The region has witnessed the adoption of advanced data services such as uninterrupted 4G and high speed broadband connectivity since the past four years as well. These factors are fuelling the growth of the music streaming market in North America. Moreover, the music streaming market has high potential in SEA & Pacific and China owing to the increasing adoption of free music streaming applications such as JOOX, Saavn, Gaana etc.” – PMR