The global music downloads market size was valued at USD 1.25 billion in 2020 and is expected to expand at a compound annual growth (CAGR) of -4.7% from 2021 to 2028. Factors such as individuals focusing on convenience for accessing audio content anytime and anywhere, availability of high-speed data networks, rising adoption of mobile devices are the key factors driving the global music downloads market. Increasing penetration of advanced wireless telecom networks and easy internet access across developing countries are increasing individuals contributing to the music download market.
Rising per capita income and purchasing power are the major growth drivers. Music download service providers are focusing on offering additional services to satisfy audio content consumers. The services providers offer various subscription plans to attract individuals. With the introduction of streaming technology, demand for music download is adversely impacted with continuously reducing market share and will continue during the forecast period.
Downloading music is a popular method of audio content distribution. Music downloads are referred to the digital sale of audio content where individuals pay one time to access music once or for an indefinite period. These music downloads services generate higher revenues as the latest songs and albums are offered to the subscribers. Subscribers offered various attractive prices to repeat purchases by vendors.
During the COVID-19 pandemic and subsequent lockdowns, the governments from various countries restricted physical movement in terms of leaving homes and traveling. Hence, the citizens preferred to stay at home as a precautionary measure. Theaters and multiplexes were closed across the world to prevent the spread of the infection. This contributed to the increased use of music download services. Music download services allow to download content audio from the internet and listen to content.
The music industry has continued to drive innovation to provide and experience music from anywhere around the world. With the launch of streaming technology, the industry shifted to online music from offline. Social media plays an important role in promoting online music. The growing competition has contributed to added new features and new geographic expansions. Music providers are also adopting streaming technology for improving customer experience. Thus, increasing paid subscriptions for streaming technology has contributed to revenue generation.
The subscription segment dominated the music download market with a revenue share of more than 30.0% in 2020 and is expected to exhibit a high CAGR of -4.2% from 2021 to 2028. The audio downloads enable listeners to pay for the audio digital copy content and own the content for listening multiple times after purchase. Hence, the listeners can access the content again and again anytime and anywhere. Subscriptions allow them to pay on a weekly, monthly, quarterly, or yearly basis. Thus, this segment is gaining popularity among the listeners and contributing to revenue growth.
The single-copy segment contributed more than 65.0% to the global revenue in 2020. In this type, listeners are allowed to pay for a single digital copy of audio content and listen the same. The audio content providers charge subscribers to access the content for a single digital copy of the audio. This type of access saves the additional cost of unwanted audio content, thus the segment is expected to continue contributing to a large share of the global market during the forecast period.
Europe held the second-largest revenue share of more than 20.0% in 2020 and is expected to witness steady growth during the forecast period. Well-developed countries such as Germany, the U.K., and France are positively contributing to the market revenue. Supportive policy frameworks and competition among the providers of digital audio would benefit consumers as well as the industry. Wide coverage of the high-speed network across the region. Thus, the region is expected to contribute to the overall growth of the global market.
Asia Pacific is likely to expand at the highest CAGR of -3.3% from 2021 to 2028. China and Japan are the most positive contributors to the growth of the market. With the growing population and increasing disposable income, the region is witnessing a significant growth rate in the global market. Many multinational companies are expanding their businesses in this region by improving the infrastructural services required for music downloads. The rapid rise in internet penetration and the growing information technology sector are also significant contributing factors to regional growth.
The market is characterized by the presence of various well-established players and several small and medium players. Vendors are focusing on launching new functions to meet consumers’ expectations by offering trending content to subscribers. Moreover, vendors are expanding their reach across all the regions of the world. Such initiatives are expected to boost the adoption rate of the products among consumers. The vendors are aggressively following organic as well as inorganic strategies to expand their footprints across the globe. Some of the prominent players operating in the global music downloads market are:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 1.20 billion |
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Revenue forecast in 2028 |
USD 855.7 million |
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Growth Rate |
CAGR of -4.7% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Access, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Germany; France; U.K.; China; Japan; Brazil; South Africa |
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Key companies profiled |
Amazon.com, Inc.; Apple Inc.; Conde Nast; DistroKid; SoundCloud Global Limited & Co. KG; 7digital; Bandcamp, Inc.; iHeartMedia, Inc.; 8tracks; Bleep Ltd. |
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Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Million Insights has segmented the global music downloads market report based on access and region:
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