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Digital Music Content Market Report by Type (Permanent Downloads, Music Streaming), Age Group (Below 18 Years, 18-40 Years, 41-60 Years, Above 60 Years), Application (Commercial Use, Household Use), and Region 2024-2032
Market Report I 2024-04-08 I 137 Pages I IMARC Group
The global digital music content market size reached US$ 21.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 45.8 Billion by 2032, exhibiting a growth rate (CAGR) of 8.3% during 2024-2032. The shifting consumer preference toward subscription-based services, the rising usage of mobile applications, and the increasing penetration of high-speed internet represent some of the key factors driving the market.
Digital music content refers to audio content that has been recorded or converted into digital format and is distributed via the internet to the end-user. There are various encoding formats used to store audio information in digital audio files, which are non-physical sources of the audio. As digital data is converted from analog data, it is supported by various hardware products for playback, such as computers, TVs, smartphones, and Bluetooth devices, for streaming and playing back different sound files. Easy accessibility to various websites, sharing, and easy availability of songs and music online are some of the key benefits of digital music content. Cloud music allows users to stream, save, and download music, as well as share their content across social networking sites. This includes streaming services, whether ad-supported or subscription-based, and paid digital downloads of single tracks or albums/compilations.
Digital Music Content Market Trends:
The market is primarily driven by the shifting consumer preference toward subscription-based services across the globe. This can be attributed to the increasing penetration of high-speed internet and the rising usage of mobile applications. With rapid digitization, the data and analytics industry are more focused on consumer behavior pattern to help the music industry and artists change their music themes and other policies accordingly. In line with this, the rising trend of online distribution of music by artists and direct artist interaction via social media portals are acting as significant growth-inducing factors for the market. Moreover, a considerable rise in advertising expenditure for mobile-based music applications is also providing an impetus to the market. However, the growing concerns regarding user data security and privacy are impeding the market growth. On the contrary, continual technological advancements for the development of safe, secure and legal music streaming infrastructure are creating a positive market outlook. The increasing popularity of unlimited cloud space for digital music library with sharable content among the expanding millennial population is also impacting the market positively. Furthermore, the introduction of numerous monetization strategies resulting in a significant rise in digital streaming revenues is propelling the market. Some of the other factors contributing to the market include the augmenting demand for high-quality music, the increasing trend of cloud computing, rapid urbanization, inflating disposable income levels, and extensive research and development (R&D) activities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global digital music content market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, age group, and application.
Type Insights
Permanent Downloads
Music Streaming
The report has provided a detailed breakup and analysis of the digital music content market based on the type. This includes permanent downloads and music streaming. According to the report, music streaming represented the largest segment.
Age Group Insights
Below 18 Years
18-40 Years
41-60 Years
Above 60 Years
The report has provided a detailed breakup and analysis of the digital music content market based on the age group. This includes below 18 years, 18-40 years, 41-60 years and above 60 years. According to the report, 18-40 years represented the largest segment.
Application Insights
Commercial Use
Household Use
A detailed breakup and analysis of the digital music content market based on the application has also been provided in the report. This includes commercial use and household use. According to the report, commercial use accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for digital music content. Some of the factors driving the North America digital music content market include the presence of several key players, rapid digitization, increasing use of cloud computing, etc.
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global digital music content market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Apple Inc., Deezer, Gamma Gaana Ltd, Hungama Digital Media Entertainment Pvt. Ltd., iHeartMedia Inc., JB Hi-Fi Limited, JioSaavn, Mixcloud, SoundCloud, Spotify AB, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global digital music content market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global digital music content market?
What are the key regional markets?
Which countries represent the most attractive digital music content markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the age group?
What is the breakup of the market based on application?
What is the competitive structure of the global digital music content market?
Who are the key players/companies in the global digital music content market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Digital Music Content Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Permanent Downloads
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Music Streaming
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Age Group
7.1 Below 18 Years
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 18-40 Years
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 41-60 Years
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Above 60 Years
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Commercial Use
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Household Use
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
10.1 Overview
10.2 Drivers
10.3 Restraints
10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Apple Inc.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Deezer
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.3 Gamma Gaana Ltd
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Hungama Digital Media Entertainment Pvt. Ltd.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 iHeartMedia Inc.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 JB Hi-Fi Limited
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 JioSaavn
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Mixcloud
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 SoundCloud
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Spotify AB
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Figure 1: Global: Digital Music Content Market: Major Drivers and Challenges
Figure 2: Global: Digital Music Content Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Digital Music Content Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Digital Music Content Market: Breakup by Type (in %), 2023
Figure 5: Global: Digital Music Content Market: Breakup by Age Group (in %), 2023
Figure 6: Global: Digital Music Content Market: Breakup by Application (in %), 2023
Figure 7: Global: Digital Music Content Market: Breakup by Region (in %), 2023
Figure 8: Global: Digital Music Content (Permanent Downloads) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Digital Music Content (Permanent Downloads) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Digital Music Content (Music Streaming) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Digital Music Content (Music Streaming) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Digital Music Content (Below 18 Years) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Digital Music Content (Below 18 Years) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Digital Music Content (18-40 Years) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Digital Music Content (18-40 Years) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Digital Music Content (41-60 Years) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Digital Music Content (41-60 Years) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Digital Music Content (Above 60 Years) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Digital Music Content (Above 60 Years) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Digital Music Content (Commercial Use) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Digital Music Content (Commercial Use) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Digital Music Content (Household Use) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Digital Music Content (Household Use) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: North America: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: North America: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: United States: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: United States: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Canada: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Canada: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Asia-Pacific: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Asia-Pacific: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: China: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: China: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Japan: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Japan: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: India: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: India: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: South Korea: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: South Korea: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Australia: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Australia: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Indonesia: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Indonesia: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Others: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Others: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Europe: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Europe: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Germany: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Germany: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: France: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: France: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: United Kingdom: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: United Kingdom: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Italy: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Italy: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Spain: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Spain: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Russia: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Russia: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Others: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Others: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Latin America: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Latin America: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Brazil: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Brazil: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Mexico: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Mexico: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Others: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Others: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Middle East and Africa: Digital Music Content Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Middle East and Africa: Digital Music Content Market: Breakup by Country (in %), 2023
Figure 72: Middle East and Africa: Digital Music Content Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Global: Digital Music Content Industry: Drivers, Restraints, and Opportunities
Figure 74: Global: Digital Music Content Industry: Value Chain Analysis
Figure 75: Global: Digital Music Content Industry: Porter's Five Forces Analysis
Table 1: Global: Digital Music Content Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Digital Music Content Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: Digital Music Content Market Forecast: Breakup by Age Group (in Million US$), 2024-2032
Table 4: Global: Digital Music Content Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Digital Music Content Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Digital Music Content Market: Competitive Structure
Table 7: Global: Digital Music Content Market: Key Players
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