Media Streaming Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Media Streaming Market is Segmented By Content Type (Music Streaming, Video Streaming), Revenue Model (Advertising, Subscription), Streaming Platform (Smartphone & Tablet​, Laptop, and Desktop​, Smart TV) and Geography.

Media Streaming Industry Overview

Media Streaming Market Share
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 23.2 %

Major Players

Media Streaming Market Major Player

*Disclaimer: Major Players sorted in no particular order


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Media Streaming Market Analysis

The Media Streaming Market is expected to grow at a CAGR of 23.2% during the forecast period (2021 - 2026). The growth of the market is fuelled by the growing demand for subscription-based services, increasing availability of region-specific and original content, and popularity of live sports. These drivers are changing the strategies adopted by the vendors in the market as the emphasis on enhanced customer experience by providing personalization, and low-cost services are increasing day by day.

  • Netflix offers its most basic plan starting at USD 8.99 per month and USD 12.99 for its high-definition service. Amazon Prime customers can get an annual membership for USD 119 or pay USD 12.99 a month, while Hulu members pay USD 11.99 per month, and Disney+ is set to launch on November 12 for USD 6.99 a month. The market is, therefore, getting more competitive with such price wars and more and big players entering the market, such as Apple and Disney.
  • Furthermore, rapid adoption of smartphones and cloud-based services, increased penetration of OTT platforms as compared to tradition pay-tv, and incorporation of AI and machine learning to help regulate live streaming and provide insights on consumer usage pattern, and partnerships to offer more and region-specific content has increased the growth of video streaming segment across regions. For instance, Netflix has 75,000 different content genres and provides personalized content for individual users through recommendation, which is possible due to the algorithms allowing it to do so.
  • The ongoing spread of coronavirus has positively impacted the media streaming industry due to enforced home confinement measures. The vendors were witnessing a spike in the number of subscribers and a peak in viewership across regions due to increased demand for online streaming and changed consumer. For instance, In the first quarter of 2020 ending on March 31, Netflix added 15.8 million subscribers globally, which is more than double the 7.2 million that were expected and growth of 22.5% year on year.

Media Streaming Industry Segments

Media streaming refers to any media content, live or recorded to be delivered to computers, mobile, and other devices via the internet, and played back in real-time. Podcasts, webcasts, movies, TV shows, and music videos are common forms of streaming content. The report provides in-depth analysis of various content types offered to consumers across the world via subscription and advertisement based revenue models to be accessed through devices such as mobile phones, tablets, etc. 

By Content Type
Music Streaming
Video Streaming
By Revenue Model
By Streaming Platform
Smartphone & Tablet
Laptop and Desktop
Smart TV
Gaming Console
North America
Asia Pacific
Latin America
Middle East and Africa

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Media Streaming Market Trends

This section covers the major market trends shaping the Media Streaming Market according to our research experts:

Music Streaming Segment is Expected to Witness Significant Growth

  • Music streaming providers are offering exclusive content with podcasts and original content, which first attracts the people towards the platform and eventually turns them as subscribers. Moreover, promotional activities like price cuts in subscriptions in growing markets and bundled offers from telecommunications players are expected to boost the growth further.
  • For instance, Spotify witnessed a YOY growth of 31% of the total revenue and a 35% share of the total paid subscriptions, mainly due to increased promotional activities such as free Spotify premium for three months, price cuts in subscription models, etc.
  • Players in the market are offering new features such as curated playlists, night mode, and lossless music for improved targeting, which is also providing companies with a competitive edge over others, thus making the market competition stronger. This is also done to improve customer retention as the number of options in the market increase continually. For instance, in September 2019, Amazon launched a new tier of its music service, dubbed Amazon Music HD. It offers lossless versions of audio files for streaming or downloading at a lower price comparatively.
  • Although global players are strongly penetrating their music streaming platforms by adopting various strategies, regional players still have a stronghold in their respective regions, owing to regional exposure and high focus on local content. For instance, Gaana continues to be the number 1 player in the Indian market, whereas Yandex Music is leading in Russia. Similarly, Tencent Music Group is one of the leading players in China market because of its apps QQ Music, Kugou, and Kuwo.
Media Streaming Market Trends

Asia Pacific to Witness Significant Growth

  • Rising investment in content creation has led to the creation of new content offerings. Increasingly, India is becoming one of the content hubs, with a wealth of material being created for consumption locally and around the world.​ For instance, In June 2020, Tencent announced the Malaysian video streaming platform Iflix's content technology and resources to grow its presence in Southeast Asia.
  • Although North America still dominates the media streaming market, Asia Pacific is showing a rapid increase in the growth rate. Giants such as Disney and Apple Inc. are set to launch their platforms across the Asia Pacific in 2020, leveraging growing mobile usage and rapidly improving access to faster speed Internet.
  • According to IMI-IFPI Digital Music Study 2019, In India, audio streaming comprised 39.4% of the time spent listening to music across the three methods (video streaming, audio streaming, and radio) but returned 71.8% of the share of revenues generated by them. In contrast, the radio was responsible for 21.7% of the listening time but a percentage of just 2.9% of total revenues from the three music listening methods.
  • Moreover, 97% of the population listens to music using a smartphone; 62% use social media sites or apps to listen to music or watch music videos. This shows the ongoing transformation towards digital media in the region is further expected to grow the market for media streaming.

Media Streaming Market Analysis

Media Streaming Market Competitor Analysis

The media streaming market is highly fragmented owing to the presence of significant players in the market and growing competitiveness in the market. Vendors in the market are concentrating on providing high-value bundles, innovative features, and High quality, original and region-specific content to gain competitive advantage and improve market position by acquiring more customers. Vendors are also adopting partnerships and acquisitions to strengthen their place in the market.

  • In June 2020, Youtube introduced a new feature named "Chapters" in enabling users to navigate longer videos. Previously users had to scroll through the navigation bar to locate a specific snippet from the video. Chapter thumbnails are instead visible at the bottom of the screen near the navigation bar showing timestamps.
  • In April 2020, Apple Music announced it's expanded to 52 countries and territories to broaden service revenue streams for the company. The expansion brings Apple Music to a total of 167 markets, including 25 new African countries

Media Streaming Market Top Players

  1. Spotify Technology S.A.

  2. Apple Inc.

  3. Amazon Prime ( Inc.)

  4. Tencent Holdings Limited

  5. AT&T Inc.

*Disclaimer: Major Players sorted in no particular order

Spotify Technology S.A., Apple Inc., Amazon Prime ( Inc.), Tencent Holdings Limited, AT&T Inc.

Media Streaming Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry



    1. 5.1 Introduction to Market Dynamics

    2. 5.2 Market Drivers

      1. 5.2.1 Easy Accessibility and Playlist Customization on Various Audio Streaming Platforms

      2. 5.2.2 Growing Adoption of Subscription Video on Demand (SVoD) Services

      3. 5.2.3 Increasing Popularity of Live Sports Streaming Services

    3. 5.3 Market Challenges

      1. 5.3.1 Challenges Regarding Latency, Reliability, and Device Compatibility

    4. 5.4 Market Opportunities

      1. 5.4.1 Increasing Adoption of 360-degree Video, AR, and VR

      2. 5.4.2 Streamlining and managing Content Production and Distribution by Machine Learning and AI

      3. 5.4.3 8K Content Offering from Broadcasting Networks and SVoD Platforms


    1. 6.1 By Content Type

      1. 6.1.1 Music Streaming

      2. 6.1.2 Video Streaming

    2. 6.2 By Revenue Model

      1. 6.2.1 Advertising

      2. 6.2.2 Subscription

    3. 6.3 By Streaming Platform

      1. 6.3.1 Smartphone & Tablet

      2. 6.3.2 Laptop and Desktop

      3. 6.3.3 Smart TV

      4. 6.3.4 Gaming Console

    4. 6.4 Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia Pacific

      4. 6.4.4 Latin America

      5. 6.4.5 Middle East and Africa


    1. 7.1 Spotify Technology S.A.

    2. 7.2 Apple Inc.

    3. 7.3 Amazon Prime ( Inc.)

    4. 7.4 Tencent Holdings Limited

    5. 7.5 Deezer SA

    6. 7.6 YouTube (Alphabet Inc.)

    7. 7.7 AT&T Inc.

    8. 7.8 Pandora Media Inc.

    9. 7.9 The Walt Disney Company

    10. 7.10 Baidu Inc.

    11. 7.11 British Broadcasting Corporation



**Subject to Availability
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Media Streaming Market Research FAQs

The Media Streaming Market is studied from 2018 - 2028.

The Media Streaming Market is growing at a CAGR of 23.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Spotify Technology S.A., Apple Inc., Amazon Prime ( Inc.), Tencent Holdings Limited, AT&T Inc. are the major companies operating in Media Streaming Market.

Media Streaming Industry Reports

In-depth industry statistics and market share insights of the Media Streaming sector for 2020, 2021, and 2022. The Media Streaming research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Media Streaming report PDF.

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