An estimated 29m consumers will be paying for on-demand music streaming services by the end of 2013, new research has predicted.
A report by ABI Research showed that Spotify is expected to be the most popular of these services, accounting for 32 percent of premium subscribers. The likes of Deezer, SK Telecom’s MelOn, Rhapsody and Sony are all trailing in the wake of Spotify in terms of popularity, according to the study.
Further findings from the ABI Research showed that the subscriber base for these services is expected to reach 191m by the end of 2018.
Aapo Markkanen, senior analyst at ABI Research, said: ‘The past two years have seen a remarkable international expansion of streaming as a distribution model, but in terms of its long-term potential we’re still only scratching the surface.
‘That’s also something to stress when discussing streaming’s role as a source of artist income. At end-2013 the cumulative revenue from premium subscriptions will amount to less than $5bn (£3.2bn), yet we expect this all-time pot to exceed $46bn in the next five years. Some two-thirds of it will be going to the rightholders; although how they will split it is then a whole another matter.’
The findings are taken from ABI Research’s Cloud Music Services study. Read more from the report on the ABI Research website.
A report by ABI Research showed that Spotify is expected to be the most popular of these services, accounting for 32 percent of premium subscribers. The likes of Deezer, SK Telecom’s MelOn, Rhapsody and Sony are all trailing in the wake of Spotify in terms of popularity, according to the study.
Further findings from the ABI Research showed that the subscriber base for these services is expected to reach 191m by the end of 2018.
Aapo Markkanen, senior analyst at ABI Research, said: ‘The past two years have seen a remarkable international expansion of streaming as a distribution model, but in terms of its long-term potential we’re still only scratching the surface.
‘That’s also something to stress when discussing streaming’s role as a source of artist income. At end-2013 the cumulative revenue from premium subscriptions will amount to less than $5bn (£3.2bn), yet we expect this all-time pot to exceed $46bn in the next five years. Some two-thirds of it will be going to the rightholders; although how they will split it is then a whole another matter.’
The findings are taken from ABI Research’s Cloud Music Services study. Read more from the report on the ABI Research website.
