Music Streaming is an online service for broadcasting music, audio files and podcasts that has gained attention in recent years with the penetration of the Internet and the increasing number of smartphones. During the quarantine and the Corona pandemic, the entertainment market has been very hot, and music broadcating services also have witnessed an increase in the number of their users. Personalization of playlists and song recommendations is one of the capabilities of these online platforms, which with the development of artificial intelligence and big data, in addition to newer features, seem to provide more accurate suggestions and more personalized playlists to users.
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Market / Industry segment of music streaming
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2020 | 24.42 | 7 | 17.80% | Prnewswire |
| 2020 | 24.42 | 8 | 17.80% | Yahoofinance |
| 2020 | 24.42 | 9 | 17.80% | Virtualstrategy |
| 2020 | 24.42 | 10 | 17.80% | Bloomberg |
| 2020 | 24.42 | 11 | 17.80% | Grandviewresearch |
Influencing factors that changes market size of music streaming
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of music streaming.
Direct drivers:
1. Young population structure
2. Increasing the number of mobile phones
3. Internet penetration
Reverse drivers:
1. High cost and low quality of the Internet
2. High price of membership in music streaming platforms
This market may also be threatened by following risks:
In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of music streaming may also be threatened by following risks:
- Technology risk
- International risk
- Sales and marketing risk
- Litigation risk
