Summary of our market study

The global music streaming market has witnessed remarkable growth, with annual revenues increasing by an average of 887% in 2020, and a specific surge of 20% in 2020, indicative of the market's resilience even during the health crisis. In France, streaming followed a similar trajectory, averaging 45% growth annually in 2020. Dominated by Deezer and Spotify, the French market also sees competition from GAFAs such as Apple Music, YouTube Music, and Amazon Music. In 2020, approximately two-thirds of French consumers listened to music regularly, with 88% among 16-24 year-olds, reflecting a strong penetration of streaming services among younger demographics. The market is also experiencing tension over artist remuneration, with no current regulations addressing this issue. Despite the success and consumer shift towards streaming, controversies surrounding fair pay for artists suggest potential regulatory changes ahead.

Streaming Resonance: Analyzing the Vibrant Demand for Music in the Digital Era

In recent years, the music streaming market in the concerned country has experienced a robust expansion, speaking directly to the evolving consumer habits towards digital consumption. Observing the period in 2020, the music streaming revenue has soared remarkably, with an average growth rate approaching a staggering 900% annually.

This momentum continued unabated in 2020, with a notable 20% increase in market growth, illustrating a sustained appetite for online music services. Evidence of this strong demand is crystal clear within the streaming landscape. Statistics show that over two-thirds of the population in the country held a passion for music or engaged in regular listening – a figure that soars to nearly 90% amongst the younger demographic of 16-24-year-olds. On average, individuals spent between 12 and 14 hours per week tuned into their favorite tracks, with relaxation, household chores, and public transportation cited as notable contexts for music consumption.

Breaking down the preferred musical genres, French chanson, international pop/rock, and urban music emerged as the favorites, with urban music dominating among the youth. These trends point to an eclectic mix of tastes that streaming platforms cater to, fulfilling the demand for a variety of musical experiences. Notably, both French and global markets reflected a penchant for local artists, with homegrown talent dominating national charts and international sensations like BTS leading worldwide album listens. Despite a digital pivot, an interesting counter-trend is the resurgence of vinyl, which enjoys a robust sales figure, indicating a more textured marketplace where digital streaming coexists with traditional formats.

The streaming platforms' user base is expansive, reaching nearly 20 million users, indicating a sharp 33% increase when compared to the previous year. This includes both premium subscriptions, the primary driver of revenue, and ad-supported freemium models, adding layers to the overall structure of streaming demand. It is noteworthy to observe that premium subscriptions skyrocketed, with a compound annual growth rate of approximately 30% in 2020.

While the streaming market dazzles with promise and growth, controversies surrounding artists' remuneration simmer in the background, perhaps signaling the need for an eventual shift towards more equitable distribution models in future regulatory landscapes. However, despite these growing pains, the demand for music streaming in the digital age remains not just alive, but vibrantly flourishing.

The Heavyweights of the Music Streaming Arena

In the dynamic world of music streaming, several key players have established their dominance, each with unique features and strategic partnerships that appeal to a wide range of audiences. Among these, two homegrown giants, Deezer and Spotify, have carved out their territories, setting the stage for what can be described as the battle for auditory supremacy.

  • Deezer, a French-origin service, stands out with its robust partnership with telecom giant Orange. This strategic alliance has propelled Deezer into a comfortable position, offering Orange Deezer subscribers attractive packages and benefits. Deezer's commitment to high-fidelity sound, through its Deezer HiFi offer, distinguishes it from many competitors, catering to audiophiles seeking a premium listening experience.
  • Spotify, on the other hand, is synonymous with music streaming for many. It's the platform that redefined the music listening experience with its early adoption of the 'freemium' model, blending ad-supported accessibility with premium subscriptions. Spotify's expansion into podcasting further differentiates it, offering exclusive content and creating a diverse audio ecosystem for its users.

As the digital landscape evolves, we also see the influence of tech titans, collectively known as the GAFAs (Google, Apple, Facebook, and Amazon), each making significant inroads into the music streaming market.

  • Apple Music leans into its ecosystem, providing seamless integration across Apple devices, while Youtube Music, under Google's umbrella, leverages the video platform's massive music video collection and user base.
  • Amazon Music adds value to Prime subscriptions and has also made a splash with its quality-focused streaming options.

These platforms have not just changed how we access music but are redefining the entire music industry. They find themselves at the center of debates surrounding artist remuneration and regulatory needs, shaping the future of entertainment consumption. Their positioning in the market reflects a blend of innovation, strategic partnerships, and a deep understanding of the evolving demands of music listeners globally. As they continue to vie for dominance, it is clear that their impact will resonate far beyond just the notes and chords of the songs they stream.

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Summary and extracts

1 Market overview

1.1 INTRODUCTION

The music streaming market includes all the platforms and players that allow streaming music online. The music streaming market is part of the giant that is the music industry, with the advent of new technologies pushing to changes in consumer habits, audio streaming has been able to make a very important place and especially very quickly in the music market, to the detriment of the physical sales (CDs, vinyls, ...).

Globally, music streaming revenue has grown by an average of 887% every year over 15 years (2005 - 2020) and the market is still not out of breath as it has grown by 20% between 2019 and 2020. In France streaming is following the same momentum, with an average annual growth of 45% between 2014 and 2020, without having been really impacted by the health crisis.

In France, the music streaming market is dominated by the two giants of the sector, Deezer and Spotify, but with the arrival of the GAFAs who are taking more and more market share with their platforms Apple Music, Youtube Music or Amazon Music

Despite the undeniable success of streaming, it is nevertheless subject to many controversies, with movements such as "Justice at Spotify" giving voice to the issue of artist remuneration by streaming platforms. With no regulations in place, this growing market is likely to undergo changes, especially in terms of regulations

 

 

 

List of charts presented in this market study

  • Chiffre d'affaires de l'industrie musicale enregistrée totale et du streaming musical
  • Répartition du chiffre d'affaires de l'industrie de la musique
  • Chiffre d'affaires du streaming par régions du monde
  • Places to listen to music
  • Main genres listened to
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Latest news

Sony aims to consolidate its presence in webtoons and digital manga - 13/05/2024
  • - Proposed purchase of Infocom by Sony Music Entertainment: $1.3 billion.
  • - Infocom owns Mecha Comics, a manga and webtoon distribution platform
  • - Mecha Comics revenues for last fiscal year: 340 million euros.
  • - Japanese manga publishing sales in 2022: 677 billion yen (4.3 billion euros).
  • - Sales of digital manga in 2022: 447.9 billion yen (2.8 billion euros).
  • - Paper manga sales in 2022: 175.4 billion yen (1.1 billion euros).
Warner, a new way of remunerating musicians on its way to Deezer. - 13/11/2023
  • Deezer is implementing a new "artist-centric" remuneration model for France.
  • A second major player, Warner Music Group, is joining the movement.
  • Since October 1, streams in France by artists from Ed Sheeran's label have been counted according to this new method.
  • According to this new method, a listen counts double when it concerns artists exceeding 1,000 monthly streams with at least 500 unique listeners.
  • The Deezer platform also limits monetization to a maximum of 1,000 streams per user per month.
  • Deezer has undertaken an extensive clean-up of its 200 million-track catalog to eliminate non-musical content.
  • With the addition of Warner, two of the three majors have joined the model promoted by Deezer.
  • According to Deezer's CEO, over 50% of streams are already accounted for using this new method.
  • Changes to Spotify's remuneration model are expected in the first quarter of 2024.
Disney slowly begins to recover - 09/11/2023
  • Its subscriber base, including Disney Hotstar in India, is 150.2 million.
  • Disney's streaming revenues reached $5 billion, up from $4.5 billion last year.
  • Revenues from Disney's traditional TV channels fell by 9% year-on-year.
  • Disney has invested a minimum of $8.6 billion to fully own Hulu.
Disney buys Hulu for $8.6 billion. - 03/11/2023
  • Disney plans to buy the remaining shares in Hulu for a minimum of $8.6 billion.
  • Comcast subsidiary NBC Universal owns the 33% of Hulu not held by Disney.
  • Disney bought 21st Century Fox in 2019, giving it a two-thirds stake in Hulu.
  • Hulu is currently valued at $27.5 billion.
  • Hulu has 50 million subscribers. Disney also owns a streaming platform, Disney+, and ESPN+
  • Netflix has 247 million subscribers.
Deezer returns to subscriber growth - 27/10/2023
  • Subscriber base of 9.9 million (+4.9% year-on-year)
  • Focus on markets where the company is well positioned, such as France, Germany, Mexico and Brazil
  • The French market saw a 7.3% year-on-year increase in the number of subscribers.
  • The rate of growth is lower than that of Swedish leader Spotify, which a few days ago announced a 16% year-on-year increase in the number of subscribers, to a total of 226 million.
  • Believe, the French specialist in digital distribution and services for musicians and labels, this week reported organic sales growth of +7.5% (+15.4% excluding currency impact) in the third quarter.
Sacem versus AI - 13/10/2023
  • The French Society of Authors, Composers and Music Publishers (Sacem) has 210,800 members
  • Sacem uses an "opt-out" to limit the use of AI on its members' works.
  • According to the "Financial Times", major Universal Music Group (UMG) asked music streaming platforms to prevent their artists' tracks from being searched last April.
  • UMG and Warner entered into negotiations with Google this summer for licensing agreements on the use of their tracks by AI tools.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Youtube
Universal Music
Sony Music Entertainment France
Warner Music Group
Spotify
Deezer
Believe
SoundCloud
Apple Music
Napster
Qobuz
TIDAL

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