Music streaming services, also known as music streaming platforms, are platforms that offer access to a wide library of songs and albums legally and under subscription. In recent years, these platforms have experienced exponential growth, both in English and Spanish.
According to a study by MIDiA Research, the global market for music streaming services reached $19 billion in 2023, and is expected to reach $25 billion in 2027. This growth is due to several factors, including:
- The increase in the penetration of the Internet and mobile devices.
- The growing demand for streaming music, especially among young people.
- The greater availability of music in different languages, including Spanish.
In the case of the Spanish-speaking market, the growth of music streaming services has been particularly notable. According to a study by Statista, the number of users of these platforms in Spain reached 12 million in 2023, and is expected to reach 15 million in 2027. In Latin America, the number of users of music streaming services reached 50 million in 2023, and is expected to reach 65 million in 2027.
Music streaming services have become an upward trend in English and Spanish. These platforms offer a wide variety of advantages to users, such as the convenience of listening to music anywhere and at any time, the possibility of discovering new artists, and the ease of sharing music with other users.
Some of the most popular music streaming services in English and Spanish are:
In English: Spotify, Apple Music, Amazon Music, YouTube Music, Tidal
In Spanish: Spotify, Apple Music, Amazon Music, YouTube Music, Deezer
Opportunities for the music industry
The growth of music streaming services offers opportunities for the music industry to reach new audiences and monetize its content. Record labels can take advantage of these platforms to distribute their music, promote their artists, and generate revenue.
