The U.S. music streaming market size was estimated at USD 12.28 billion in 2023 and is expected to grow at a CAGR of 12.8% from 2024 to 2030. The market is expected to grow due to the growing adoption of digital platforms and the widespread utilization of smart devices that allow users to see music videos and listen to podcasts along with audio files. Attractive features such as personalized song recommendations, automatic playlist customization, and seamless accessibility across various applications and web browsers are offered by these platforms, which is expected to boost the growth of the market.

In 2023, the U.S. accounted for over 30% of the music streaming market. Due to the rising adoption of high speed internet connectivity, key companies in the market have started new music services that offer music streams and downloads for music enthusiasts. With the significant speed and data transmission capabilities, companies can provide high-quality music streams for their users. These advancements in technologies and connectivity are expected to further drive the market growth.

The market is expected to witness substantial growth over the forecast period as internet access and usage has become widespread and more music streaming apps have hit the market. The proliferation of free music streaming platforms with advertisements is expected to appeal to users and increase the market growth substantially. The industry has come a long way in the modes of providing the service and as well as reducing piracy in the music industry.

Gather more insights about the market drivers, restrains and growth of the U.S. Music Streaming Market

 

Music streaming apps offer high-definition audio if the user’s internet connection is strong, while also not taking up too much data storage in today’s limited storage smart devices. The music streaming platforms offer on-demand streaming as well as live streaming from various artists around the world. The ability to play music on demand or tune into live music streams is an important factor pushing the growth of the music streaming market.

The COVID-19 pandemic also provided an opportunity for digital services to benefit. The outbreak led to a rise in music streaming platforms investing significantly to add video content to their services as an addition. For instance, Apple Music and Spotify, both offer audio and video based content. Additionally, Spotify has also begun to buy the rights to many podcasts to make it exclusively available only on their platform as a method to bring over new, loyal consumers of the podcasts.

Key U.S. Music Streaming Company Insights

Some of the leading companies in the market include Spotify AB, Apple, Inc., Amazon.com, Inc. and Google LLC.

  • Amazon facilitates musicians, app developers, filmmakers, authors, and others to publish and sell content through its branded websites. The company offers Amazon prime, which is an annual membership program.
  • Apple Music is a video and music streaming service that allows users to choose music to stream on-demand or listen to existing playlists. The company’s product portfolio includes iPad, Mac, TVs, and iPhones. It delivers and sells applications and digital content through the iBook Store, iTunes Store, Mac App Store, App Store, Apple Music, and TV App Store.
  • Tidal, SoundCloud Global Limited & Co. KG, and iHeartMedia, Inc. are some other companies in the U.S. music streaming market.
  • Tidal offers a monthly subscription that grants access to a music library. The company also provides a service for users to watch ad-free music videos and access music selections, including new tracks and albums across various genres.
  • SoundCloud’s platform enables the promotion, record, upload, and share created music with friends privately or publicly on sites, blogs, and social networks, allowing artists to promote and distribute their work while also assisting customers in discovering it.

Key U.S. Music Streaming Companies:

  • com, Inc.
  • Apple, Inc.
  • Deezer SA
  • Google LLC
  • iHeartMedia, Inc.
  • Pandora Media, Inc.
  • SoundCloud Global Limited & Co. KG
  • Spotify AB
  • Tencent Music Entertainment Group
  • Tidal

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