Media Streaming Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Video 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 (North America (United States, Canada), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of MEA). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Media Streaming Market Size

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Media Streaming Market Summary
Study Period 2019-2029
Market Size (2024) USD 128.36 Billion
Market Size (2029) USD 187.39 Billion
CAGR (2024 - 2029) 7.86 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Media Streaming Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Media Streaming Market Analysis

The Media Streaming Market size is estimated at USD 119.01 billion in 2023, and is expected to reach USD 173.73 billion by 2028, growing at a CAGR of 7.86% during the forecast period (2023-2028).

The growth of the market is fuelled by the growing demand for subscription-based services, increasing availability of region-specific and original content, and the 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 is increasing daily.

  • Media quality is improved by using innovations like blockchain technology and artificial intelligence (AI). Editing, cinematography, voice-overs, scriptwriting, and many other facets of video creation and upload are all greatly aided by AI. It is projected that these advancements will have a favorable impact on the market's expansion. The content quality of media is being improved by a number of suppliers of media streaming solutions employing AI. Recently, these channels have become much more popular than mainstream media outlets like YouTube and Netflix.
  • Moreover, the advertising and revenue model plays a crucial role in this market. More people pay attention to ads on streaming platforms than on social media. For instance, In a report titled "India Embraces the Streaming Era," published today by Magnite, the largest independent omnichannel sell-side advertising platform in the world, it was discovered that ads on streaming platforms attract more attention than those on social media. Almost two-thirds of streamers in India (64%) are more receptive to advertising on streaming platforms, with many claiming to frequently do a product search (48%) and make a purchase (33%) after the fact.
  • 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. The market is, therefore, getting more competitive with such price wars and more big players entering the market, such as Apple and Disney.
  • Furthermore, the rapid adoption of smartphones and cloud-based services, increased penetration of OTT platforms as compared to traditional pay-tv, and incorporation of AI and machine learning to help regulate live streaming and provide insights on consumer usage patterns 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 consumers. 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 was expected and a growth of 22.5% year on year. Further, Netflix reported a rise in the quantity of new mobile application installations of more than 50% in Italy and more than 30% in Spain in March 2020.

Media Streaming Market Trends

Music Streaming Segment is Expected to Witness Significant Growth

  • Music streaming providers are offering exclusive content with podcasts and original content, which first attracts 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, according to the data from Spotify, in the third quarter of 2023, the music streaming service Spotify reached an all-time high with 574 million active users worldwide. Moreover, according to the data, the number of active users worldwide on the Spotify platform grew to 574 million active users in the third quarter of 2023 from 456 million active users in the third quarter of 2022.
  • One of the most well-liked trends in the global market is the expanding use of 5G connections. Amazon has taken advantage of this chance by launching a new music HD service that will give music lovers in the United States, the United Kingdom, Germany, and Japan access to lossless music streams and downloads. As 5G becomes more commonly used, businesses will be able to provide high-fidelity music streams because of its ability to transport data multiple times quicker than 4G. Virtual Reality (VR), Augmented Reality (AR), and hologram concerts are anticipated to become quite popular for live-streaming music videos. These new developments are accelerating the market's expansion.
  • 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, between December 25, 2021, and January 31, 2022, about 82,000 New Year's Eve playlists were made; on New Year's Eve itself, almost 40,000 playlists were made.
  • 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 a 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: Music streaming revenue worldwide from 2018 to 2021(in billion U.S. dollars)

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. Further, the video streaming segment is gaining significant traction among users in countries like China, Japan, South Korea, Indonesia and Thailand, thus positively impacting the growth of the market.
  • Although North America still dominates the media streaming market, Asia Pacific is showing a rapid increase in the growth rate. The significantly high penetration of mobile phones and internet in Asia Pacific region is positively impacting the growth of streaming market vendors in the region. Giants such as Disney and Apple Inc. are leveraging growing mobile usage and rapidly improving access to faster-speed Internet. 
  • According to IFPI Music Report 2022, Engaging with Music 2022 is a global report on how people all around the world enjoy and engage with music. It was published today by IFPI, which represents the recording business globally. The survey, which is based on responses from more than 44,000 people in 22 countries, is the biggest music study ever conducted. More than 45% of customers choose paid membership services, and 46% of respondents use audio streaming subscription services, which provide continuous and on-demand access to millions of licensed songs.
  • 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: Leading free and paid platform types used for regular watching among OTT viewers in Asia in 2022

Media Streaming Industry Overview

The media streaming market is 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 a competitive advantage and improve their market position by acquiring more customers. Vendors are also adopting partnerships and acquisitions to strengthen their place in the market.

In September 2023, Paramount announced launching the Paramount+ streaming service in Japan in December as a no-extra-charge addition to cable and internet provider J: COM’s platform and to pay-TV service Wowow. Paramount+ originals, including Tulsa King, Mayor of Kingstown, and Star Trek: Strange New Worlds, will be available at the service's launch and for the first time in Japan.

In March 2023, Apple announced the launching of a new standalone app designed specifically for streaming classical music. Apple Music Classical will offer access to over five million classical music tracks. The Apple said the app will have the world's most extensive classical music catalog and feature thousands of exclusive albums.

Media Streaming Market Leaders

  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

Media Streaming Market Concentration
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Media Streaming Market News

  • January 2023: IndiaCast Media Distribution Pvt. Ltd., the multi-platform content asset monetization entity jointly owned by TV18 and Viacom18, has partnered with Amagi to launch Desi Play TV, a free ad-supported streaming television (FAST) channel in HD on Sling in the US and Plex across the US, Canada, and Middle East regions. Amagi is a world leader in cloud-based SaaS technology for broadcast and connected TV. The network's first FAST channel will feature some of the most well-liked, carefully chosen Hindi series with English subtitles from its catalog of Viacom18 material.
  • January 2023: To handle the increase in local and international demand for the 2022 FIFA World Cup, Beyond Technology, a global player in technology transformation, and Infinera successfully implemented a 3.6 Terabit network for a top Middle Eastern network operator.

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

    3. 4.3 Impact of COVID-19 on Global Media Streaming Market


    1. 5.1 Market Drivers

      1. 5.1.1 Easy Accessibility and Playlist Customization on Various Audio Streaming Platforms

      2. 5.1.2 Growing Adoption of Subscription Video on Demand (SVoD) Services

      3. 5.1.3 Increasing Popularity of Live Sports Streaming Services

    2. 5.2 Market Challenges

      1. 5.2.1 Challenges Regarding Latency, Reliability, and Device Compatibility

    3. 5.3 Market Opportunities

      1. 5.3.1 Increasing Adoption of 360-degree Video, AR, and VR

      2. 5.3.2 Streamlining and managing Content Production and Distribution by Machine Learning and AI

      3. 5.3.3 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

        1. United States

        2. Canada

      2. 6.4.2 Europe

        1. Germany

        2. UK

        3. France

        4. Spain

        5. Rest of Europe

      3. 6.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Rest of Asia-Pacific

      4. 6.4.4 Latin America

        1. Brazil

        2. Mexico

        3. Argentina

        4. Rest of Latin America

      5. 6.4.5 Middle East and Africa

        1. UAE

        2. Saudi Arabia

        3. South Africa

        4. Rest of Middle East and Africa


    1. 7.1 Company Profiles

      1. 7.1.1 Spotify Technology S.A.

      2. 7.1.2 Apple Inc.

      3. 7.1.3 Amazon Prime ( Inc.)

      4. 7.1.4 Tencent Holdings Limited

      5. 7.1.5 Deezer SA

      6. 7.1.6 YouTube (Alphabet Inc.)

      7. 7.1.7 AT&T Inc.

      8. 7.1.8 Pandora Media Inc.

      9. 7.1.9 The Walt Disney Company

      10. 7.1.10 Baidu Inc.

      11. 7.1.11 British Broadcasting Corporation

    2. *List Not Exhaustive


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Media Streaming Industry Segmentation

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 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, gaming console), and Geography (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

The market sizes and forecasts are provided in terms of value USD for all the above segments.

By Content Type
Music Streaming
Video Streaming
By Revenue Model
By Streaming Platform
Smartphone & Tablet
Laptop and Desktop
Smart TV
Gaming Console
North America
United States
Rest of Europe
Rest of Asia-Pacific
Latin America
Rest of Latin America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Media Streaming Market Research FAQs

The Media Streaming Market size is expected to reach USD 128.36 billion in 2024 and grow at a CAGR of 7.86% to reach USD 187.39 billion by 2029.

In 2024, the Media Streaming Market size is expected to reach USD 128.36 billion.

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

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Media Streaming Market.

Media Streaming Industry Report

Statistics for the 2024 Media Streaming market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Media Streaming analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Media Streaming Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)