Streaming Music Subscriptions to Exceed $3bn in Western Europe and the USA This Year: Futuresource Consulting

Streaming Music Subscriptions to Exceed $3bn in Western Europe and the USA This Year: Futuresource Consulting

LONDON, August 20, 2014 /PRNewswire/ --



Paid-for streaming music subscription services have experienced significant growth in
both the USA and key markets in Western Europe, with paid-for subscribers in these
territories expected to double to over 20 million in 2014 compared to 2012, according to
the latest research from Futuresource Consulting.



"Global consumer spend on streaming services in the US and Western Europe - excluding
personalised radio services - reached almost $1.9 billion in 2013, with 59% growth
expected this year to reach an estimated $3 billion, with most users using service
provider apps on smartphones or tablets to access and play out music," says David
Sidebottom, Senior Market Analyst at Futuresource Consulting.



"Wireless audio hardware is in the driving seat, with devices like wireless speakers
key to the development of streaming music subscription services, providing an additional
layer to the user experience beyond a personal listening experience via headphones or a
standard docking station."



The overall music market in many leading geographies produced some green shoots in
2013. However, despite the strong growth in streaming services, in many markets it will
not be enough in the short term to compensate for both the decline in packaged music and
pay-per-download (PPD) market. While the coming of age of paid-for streaming subscriptions
in a number of countries has helped stabilise overall consumer spend, it has also stifled
growth in PPD albums and singles from services such as iTunes. And as streaming services
take hold of the music industry, Futuresource Consulting will be exploring future business
opportunities at a half day event in London on 23 October.



"Packaged music declines have eased in some countries, but continue to show signs of
weakness," says Sidebottom. "Japan and Germany continue to have a strong affiliation to
packaged media compared to other countries, combined they accounting for over 50% of total
global spend on packaged music."



The Audio Renaissance: A new event exploring the business opportunities within music
and audio, and bringing together key industry influencers to discuss the services,
hardware and content plays that will shape the future landscape. The event will take place
in London on the 23rd October 2014. For more information, please click here>>
[http://www.futuresource-consulting.com/futuresource-conferences-events.html ]



The Music Market Strategic Overview report explores the overall music market, with a
focus on the USA and key Western European markets. Forecast consumer spend data is broken
out for: Packaged music, pay-per-download singles & albums and streaming music
subscriptions. Detailed market data is provided from 2012 with forecasts to 2018, market
forecasts refer to the legitimate market only and exclude piracy.



Notes



Futuresource Consulting is a specialist research and knowledge-based consulting
company, providing organisations with insight into consumer electronics, digital imaging,
entertainment media, broadcast, storage media, education technology and IT. With a
heritage stretching back to the 1980s, the company delivers in-depth analysis and
forecasts on a global scale, advising on strategic positioning, market trends, competitive
forces and technological developments. http://www.futuresource-consulting.com.



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Futuresource Media Contact
For industry comment, forecasting and trends contact Andy C Watson on:



Direct Dial : +44(0)1582-500169
Email andy.watson@futuresource-hq.com
Web: http://www.futuresource-consulting.com




Futuresource Consulting


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