Music Streaming Market Report 2026

The music streaming market size has grown rapidly in recent years. It will grow from $36.96 billion in 2025 to $42.84 billion in 2026 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to increasing adoption of smartphones, growth of high-speed internet, rising consumer demand for on-demand content, proliferation of mobile applications, decline in physical music sales.

The music streaming market size is expected to see rapid growth in the next few years. It will grow to $77.06 billion in 2030 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to expansion of subscription-based streaming, rise of AI-driven music curation, growth in live virtual concerts, integration with social media platforms, increasing adoption of connected devices. Major trends in the forecast period include personalized music recommendations, social listening and sharing features, high-quality audio streaming, cross-platform integration, cloud-based music libraries.

The expansion of high-speed internet connectivity is anticipated to drive the growth of the music streaming market in the coming years. High-speed internet connectivity refers to broadband network access with rapid data transfer rates and minimal latency, enabling users to quickly access and share digital content online. This connectivity allows for uninterrupted music streaming by minimizing buffering, supporting higher audio quality, and ensuring smooth playback across devices, thereby enhancing the overall user experience. For example, in January 2024, according to Eurostat, a Luxembourg-based government agency, in 2023, 30% of EU internet users aged 16 to 74 reported participating in an online course or using online learning materials within the past three months. This represents a 2-percentage point increase from 2022, when the figure was 28%. Overall, engagement in online education increased in 2023 compared to 2022. Consequently, the expansion of high-speed internet connectivity is contributing to the growth of the music streaming market.

Major players in the music streaming market are increasingly adopting a strategic partnership approach to explore innovative business models for music streaming. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. A notable example is Tidal, a US-based music streaming service, which, in January 2023, announced a partnership with Universal Music Group N.V., a Netherlands-based music corporation. The collaboration aims to investigate a new economic framework for music streaming that better rewards the value provided by artists and more accurately reflects the connection Tidal users have with the artists and music they enjoy. Tidal and UMG will explore how digital audio streaming services and platforms can enhance financial value for artists by leveraging fan engagement. The study will examine different financial approaches that may benefit artists and the music community by accelerating subscriber growth, increasing retention, and more effectively monetizing fan interactions. This strategic partnership exemplifies the industry's effort to evolve and create fairer economic models that benefit both artists and users in the music streaming market.

In April 2024, Orbit Showtime Network Plus, a UAE-based media platform, acquired a majority 55.45% stake in Anghami Inc. for $50 million. Through this acquisition, OSN+ seeks to enhance its music streaming services and broaden its presence across the Middle East and North Africa by incorporating Anghami’s audio content and user base. Anghami Inc. is a UAE-based music streaming service offering users access to an extensive catalog of Arabic and international music.

Major companies operating in the music streaming market are Amazon.com Inc., Apple Inc., Google LLC, Spotify AB, Melon Corporation, Sirius XM Holdings Inc., Yandex Music, Tencent Music Entertainment Group, iHeartMedia Inc., Tidal Music LLC, Pandora Media Inc., Kugou Music, Kuwo Music, NetEase Cloud Music, SoundCloud Global Limited & Co KG, Deezer SAS, KKBOX Inc., LiveOne, Wynk Music, Hungama Digital Media Entertainment Private Limited, Anghami, Boomplay Music Africa, Gaana.com, JOOX Music, Saavn Media Pvt Ltd.

North America was the largest region in the music streaming market share in 2025. The regions covered in the music streaming market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the music streaming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The music streaming market includes revenues earned by entities by in-person, hybrid and virtual music streaming. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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