Written by: Roshan Dwivedi
According to research reports, music streaming services continues to rise. The number of people subscribing for paid music streaming is set to touch 235 million worldwide by the end of 2018. Growth of music streaming services, wider acceptance of streaming media in all forms and smarter device updates are few reason which have led to the growth of music streaming services.
David Sidebottom, Principal Analyst at Futuresource Consulting quoted, “Streaming subscriptions accounted for over half of all global spend on music last year, a segment which includes packaged music, pay-per-download singles and albums, and streaming music subscriptions. In the first half of 2018, the upward trend has continued, tipping the vast majority of key countries beyond the 50 per cent threshold. What’s more, all this growth is not at the expense of the overall market. The momentum is fuelling expansion, with consumer spend on music growing by 10 percent in 2017.”