About this Market
Record companies will earn revenues of USD 7.2 billion from all digital formats in 2015, up from USD 6.6 billion in 2014. This figure will rise steadily to USD 10.3 billion by 2020. Meanwhile, the revenue earned from the sale of physical music formats will fall from USD 6.7 billion in 2015 to just USD 4.4 billion in 2020.

Within the digital music segment, subscription revenues will enjoy the strongest growth. Subscriptions will represent 29% of digital revenues in 2015 rising to over 50% by 2020, with a rising trend beyond.

Report Content
This report offers an in-depth analysis of the worldwide subscription music market. The report  contains very detailed forecasts for all three types of digital music: downloads, subscriptions and free, ad-supported music services.

To provide the reader with a complete picture the report also includes detailed projections for physical formats.

All of these forecasts are presented separately for each of 42 countries, with regional and worldwide totals also being provided.

A very detailed management report explains the analytical basis for the forecasts. The management report also contains extensive business-level analysis. All of the major forces that are shaping the worldwide subscription music market are included as are all the major players – Apple, Pandora, Spotify, Deezer, Samsung, Sony, Microsoft, Google, Tidal/Jay Z, and more.



Sample Charts

Here are a few examples of the charts that are contained in this report:



Report Contents

This report contains the following information:


This report contains the following main sections:

Executive Summary

Analysis of Key Market Drivers

Economic fundamentals
Structural factors
Market concentration
The role of bundling
Viability of Freemium services

Detailed Business Analysis of Selected Digital Music Services

Amazon
Apple: Upcoming service
Deezer
Google
Pandora
Samsung
Simfy
Sony
Spotify
Tidal / Jay Z

Profiles of Selected Digital Music Services

Amazon
Apple
Deezer
Google
JB HiFi
Microsoft
Pandora
Rdio
Rhapsody
Simfy
Samsung
Sony
Tidal / Jay Z

Appendix

This report contains detailed analysis of the following digital music services:

Amazon
Apple
Deezer
Google
JB HiFi
Microsoft
Pandora
Rdio
Rhapsody
Simfy
Samsung
Sony
Tidal / Jay Z

This report contains the following market forecasts which are presented in the form 9 detailed tables supplied on a formatted spreadsheet:

 

NOTE: SCOLL DOWN AS THIS IS A VERY LONG TABLE!!

 

MARKET TRADE REVENUES COVERAGE PERIOD
Recorded Music  All Digital Formats Worldwide 2013 to 2020
Recorded Music  All Digital Formats North America 2013 to 2020
Recorded Music  All Digital Formats Western Europe 2013 to 2020
Recorded Music  All Digital Formats Eastern Europe 2013 to 2020
Recorded Music  All Digital Formats Asia Pacific 2013 to 2020
Recorded Music  All Digital Formats Latin America 2013 to 2020
Recorded Music  All Digital Formats Middle East and Africa 2013 to 2020
Recorded Music  All Digital Formats USA 2013 to 2020
Recorded Music  All Digital Formats Argentina 2013 to 2020
Recorded Music  All Digital Formats Australia 2013 to 2020
Recorded Music  All Digital Formats Austria 2013 to 2020
Recorded Music  All Digital Formats Belgium 2013 to 2020
Recorded Music  All Digital Formats Brazil 2013 to 2020
Recorded Music  All Digital Formats Canada 2013 to 2020
Recorded Music  All Digital Formats Chile 2013 to 2020
Recorded Music  All Digital Formats China 2013 to 2020
Recorded Music  All Digital Formats Colombia 2013 to 2020
Recorded Music  All Digital Formats Croatia 2013 to 2020
Recorded Music  All Digital Formats Czech Republic 2013 to 2020
Recorded Music  All Digital Formats Denmark 2013 to 2020
Recorded Music  All Digital Formats Finland 2013 to 2020
Recorded Music  All Digital Formats France 2013 to 2020
Recorded Music  All Digital Formats Germany 2013 to 2020
Recorded Music  All Digital Formats Greece 2013 to 2020
Recorded Music  All Digital Formats Hong Kong SAR, China 2013 to 2020
Recorded Music  All Digital Formats Hungary 2013 to 2020
Recorded Music  All Digital Formats India 2013 to 2020
Recorded Music  All Digital Formats Indonesia 2013 to 2020
Recorded Music  All Digital Formats Ireland 2013 to 2020
Recorded Music  All Digital Formats Italy 2013 to 2020
Recorded Music  All Digital Formats Japan 2013 to 2020
Recorded Music  All Digital Formats Malaysia 2013 to 2020
Recorded Music  All Digital Formats Mexico 2013 to 2020
Recorded Music  All Digital Formats Netherlands 2013 to 2020
Recorded Music  All Digital Formats New Zealand 2013 to 2020
Recorded Music  All Digital Formats Norway 2013 to 2020
Recorded Music  All Digital Formats Peru 2013 to 2020
Recorded Music  All Digital Formats Philippines 2013 to 2020
Recorded Music  All Digital Formats Poland 2013 to 2020
Recorded Music  All Digital Formats Portugal 2013 to 2020
Recorded Music  All Digital Formats Russia 2013 to 2020
Recorded Music  All Digital Formats Singapore 2013 to 2020
Recorded Music  All Digital Formats Slovak Republic 2013 to 2020
Recorded Music  All Digital Formats South Africa 2013 to 2020
Recorded Music  All Digital Formats South Korea 2013 to 2020
Recorded Music  All Digital Formats Spain 2013 to 2020
Recorded Music  All Digital Formats Sweden 2013 to 2020
Recorded Music  All Digital Formats Switzerland 2013 to 2020
Recorded Music  All Digital Formats Taiwan 2013 to 2020
Recorded Music  All Digital Formats Thailand 2013 to 2020
Recorded Music  All Digital Formats Turkey 2013 to 2020
Recorded Music  All Digital Formats United Kingdom 2013 to 2020
Recorded Music  All Digital Formats Venezuela 2013 to 2020
       
       
       
       
MARKET TRADE REVENUES COVERAGE PERIOD
Recorded Music  Physical Formats Worldwide 2013 to 2020
Recorded Music  Physical Formats North America 2013 to 2020
Recorded Music  Physical Formats Western Europe 2013 to 2020
Recorded Music  Physical Formats Eastern Europe 2013 to 2020
Recorded Music  Physical Formats Asia Pacific 2013 to 2020
Recorded Music  Physical Formats Latin America 2013 to 2020
Recorded Music  Physical Formats Middle East and Africa 2013 to 2020
Recorded Music  Physical Formats USA 2013 to 2020
Recorded Music  Physical Formats Argentina 2013 to 2020
Recorded Music  Physical Formats Australia 2013 to 2020
Recorded Music  Physical Formats Austria 2013 to 2020
Recorded Music  Physical Formats Belgium 2013 to 2020
Recorded Music  Physical Formats Brazil 2013 to 2020
Recorded Music  Physical Formats Canada 2013 to 2020
Recorded Music  Physical Formats Chile 2013 to 2020
Recorded Music  Physical Formats China 2013 to 2020
Recorded Music  Physical Formats Colombia 2013 to 2020
Recorded Music  Physical Formats Croatia 2013 to 2020
Recorded Music  Physical Formats Czech Republic 2013 to 2020
Recorded Music  Physical Formats Denmark 2013 to 2020
Recorded Music  Physical Formats Finland 2013 to 2020
Recorded Music  Physical Formats France 2013 to 2020
Recorded Music  Physical Formats Germany 2013 to 2020
Recorded Music  Physical Formats Greece 2013 to 2020
Recorded Music  Physical Formats Hong Kong SAR, China 2013 to 2020
Recorded Music  Physical Formats Hungary 2013 to 2020
Recorded Music  Physical Formats India 2013 to 2020
Recorded Music  Physical Formats Indonesia 2013 to 2020
Recorded Music  Physical Formats Ireland 2013 to 2020
Recorded Music  Physical Formats Italy 2013 to 2020
Recorded Music  Physical Formats Japan 2013 to 2020
Recorded Music  Physical Formats Malaysia 2013 to 2020
Recorded Music  Physical Formats Mexico 2013 to 2020
Recorded Music  Physical Formats Netherlands 2013 to 2020
Recorded Music  Physical Formats New Zealand 2013 to 2020
Recorded Music  Physical Formats Norway 2013 to 2020
Recorded Music  Physical Formats Peru 2013 to 2020
Recorded Music  Physical Formats Philippines 2013 to 2020
Recorded Music  Physical Formats Poland 2013 to 2020
Recorded Music  Physical Formats Portugal 2013 to 2020
Recorded Music  Physical Formats Russia 2013 to 2020
Recorded Music  Physical Formats Singapore 2013 to 2020
Recorded Music  Physical Formats Slovak Republic 2013 to 2020
Recorded Music  Physical Formats South Africa 2013 to 2020
Recorded Music  Physical Formats South Korea 2013 to 2020
Recorded Music  Physical Formats Spain 2013 to 2020
Recorded Music  Physical Formats Sweden 2013 to 2020
Recorded Music  Physical Formats Switzerland 2013 to 2020
Recorded Music  Physical Formats Taiwan 2013 to 2020
Recorded Music  Physical Formats Thailand 2013 to 2020
Recorded Music  Physical Formats Turkey 2013 to 2020
Recorded Music  Physical Formats United Kingdom 2013 to 2020
Recorded Music  Physical Formats Venezuela 2013 to 2020
       
       
       
       
MARKET TRADE REVENUES COVERAGE PERIOD
Digital Music  Downloads Worldwide 2013 to 2020
Digital Music  Downloads North America 2013 to 2020
Digital Music  Downloads Western Europe 2013 to 2020
Digital Music  Downloads Eastern Europe 2013 to 2020
Digital Music  Downloads Asia Pacific 2013 to 2020
Digital Music  Downloads Latin America 2013 to 2020
Digital Music  Downloads Middle East and Africa 2013 to 2020
Digital Music  Downloads USA 2013 to 2020
Digital Music  Downloads Argentina 2013 to 2020
Digital Music  Downloads Australia 2013 to 2020
Digital Music  Downloads Austria 2013 to 2020
Digital Music  Downloads Belgium 2013 to 2020
Digital Music  Downloads Brazil 2013 to 2020
Digital Music  Downloads Canada 2013 to 2020
Digital Music  Downloads Chile 2013 to 2020
Digital Music  Downloads China 2013 to 2020
Digital Music  Downloads Colombia 2013 to 2020
Digital Music  Downloads Croatia 2013 to 2020
Digital Music  Downloads Czech Republic 2013 to 2020
Digital Music  Downloads Denmark 2013 to 2020
Digital Music  Downloads Finland 2013 to 2020
Digital Music  Downloads France 2013 to 2020
Digital Music  Downloads Germany 2013 to 2020
Digital Music  Downloads Greece 2013 to 2020
Digital Music  Downloads Hong Kong SAR, China 2013 to 2020
Digital Music  Downloads Hungary 2013 to 2020
Digital Music  Downloads India 2013 to 2020
Digital Music  Downloads Indonesia 2013 to 2020
Digital Music  Downloads Ireland 2013 to 2020
Digital Music  Downloads Italy 2013 to 2020
Digital Music  Downloads Japan 2013 to 2020
Digital Music  Downloads Malaysia 2013 to 2020
Digital Music  Downloads Mexico 2013 to 2020
Digital Music  Downloads Netherlands 2013 to 2020
Digital Music  Downloads New Zealand 2013 to 2020
Digital Music  Downloads Norway 2013 to 2020
Digital Music  Downloads Peru 2013 to 2020
Digital Music  Downloads Philippines 2013 to 2020
Digital Music  Downloads Poland 2013 to 2020
Digital Music  Downloads Portugal 2013 to 2020
Digital Music  Downloads Russia 2013 to 2020
Digital Music  Downloads Singapore 2013 to 2020
Digital Music  Downloads Slovak Republic 2013 to 2020
Digital Music  Downloads South Africa 2013 to 2020
Digital Music  Downloads South Korea 2013 to 2020
Digital Music  Downloads Spain 2013 to 2020
Digital Music  Downloads Sweden 2013 to 2020
Digital Music  Downloads Switzerland 2013 to 2020
Digital Music  Downloads Taiwan 2013 to 2020
Digital Music  Downloads Thailand 2013 to 2020
Digital Music  Downloads Turkey 2013 to 2020
Digital Music  Downloads United Kingdom 2013 to 2020
Digital Music  Downloads Venezuela 2013 to 2020
       
       
MARKET TRADE REVENUES COVERAGE PERIOD
Digital Music  Ad-supported Worldwide 2013 to 2020
Digital Music  Ad-supported North America 2013 to 2020
Digital Music  Ad-supported Western Europe 2013 to 2020
Digital Music  Ad-supported Eastern Europe 2013 to 2020
Digital Music  Ad-supported Asia Pacific 2013 to 2020
Digital Music  Ad-supported Latin America 2013 to 2020
Digital Music  Ad-supported Middle East and Africa 2013 to 2020
Digital Music  Ad-supported USA 2013 to 2020
Digital Music  Ad-supported Argentina 2013 to 2020
Digital Music  Ad-supported Australia 2013 to 2020
Digital Music  Ad-supported Austria 2013 to 2020
Digital Music  Ad-supported Belgium 2013 to 2020
Digital Music  Ad-supported Brazil 2013 to 2020
Digital Music  Ad-supported Canada 2013 to 2020
Digital Music  Ad-supported Chile 2013 to 2020
Digital Music  Ad-supported China 2013 to 2020
Digital Music  Ad-supported Colombia 2013 to 2020
Digital Music  Ad-supported Croatia 2013 to 2020
Digital Music  Ad-supported Czech Republic 2013 to 2020
Digital Music  Ad-supported Denmark 2013 to 2020
Digital Music  Ad-supported Finland 2013 to 2020
Digital Music  Ad-supported France 2013 to 2020
Digital Music  Ad-supported Germany 2013 to 2020
Digital Music  Ad-supported Greece 2013 to 2020
Digital Music  Ad-supported Hong Kong SAR, China 2013 to 2020
Digital Music  Ad-supported Hungary 2013 to 2020
Digital Music  Ad-supported India 2013 to 2020
Digital Music  Ad-supported Indonesia 2013 to 2020
Digital Music  Ad-supported Ireland 2013 to 2020
Digital Music  Ad-supported Italy 2013 to 2020
Digital Music  Ad-supported Japan 2013 to 2020
Digital Music  Ad-supported Malaysia 2013 to 2020
Digital Music  Ad-supported Mexico 2013 to 2020
Digital Music  Ad-supported Netherlands 2013 to 2020
Digital Music  Ad-supported New Zealand 2013 to 2020
Digital Music  Ad-supported Norway 2013 to 2020
Digital Music  Ad-supported Peru 2013 to 2020
Digital Music  Ad-supported Philippines 2013 to 2020
Digital Music  Ad-supported Poland 2013 to 2020
Digital Music  Ad-supported Portugal 2013 to 2020
Digital Music  Ad-supported Russia 2013 to 2020
Digital Music  Ad-supported Singapore 2013 to 2020
Digital Music  Ad-supported Slovak Republic 2013 to 2020
Digital Music  Ad-supported South Africa 2013 to 2020
Digital Music  Ad-supported South Korea 2013 to 2020
Digital Music  Ad-supported Spain 2013 to 2020
Digital Music  Ad-supported Sweden 2013 to 2020
Digital Music  Ad-supported Switzerland 2013 to 2020
Digital Music  Ad-supported Taiwan 2013 to 2020
Digital Music  Ad-supported Thailand 2013 to 2020
Digital Music  Ad-supported Turkey 2013 to 2020
Digital Music  Ad-supported United Kingdom 2013 to 2020
Digital Music  Ad-supported Venezuela 2013 to 2020
       
       
MARKET TRADE REVENUES & ACTIVE USERS COVERAGE PERIOD
Digital Music  Subscriptions Worldwide 2013 to 2020
Digital Music  Subscriptions North America 2013 to 2020
Digital Music  Subscriptions Western Europe 2013 to 2020
Digital Music  Subscriptions Eastern Europe 2013 to 2020
Digital Music  Subscriptions Asia Pacific 2013 to 2020
Digital Music  Subscriptions Latin America 2013 to 2020
Digital Music  Subscriptions Middle East and Africa 2013 to 2020
Digital Music  Subscriptions USA 2013 to 2020
Digital Music  Subscriptions Argentina 2013 to 2020
Digital Music  Subscriptions Australia 2013 to 2020
Digital Music  Subscriptions Austria 2013 to 2020
Digital Music  Subscriptions Belgium 2013 to 2020
Digital Music  Subscriptions Brazil 2013 to 2020
Digital Music  Subscriptions Canada 2013 to 2020
Digital Music  Subscriptions Chile 2013 to 2020
Digital Music  Subscriptions China 2013 to 2020
Digital Music  Subscriptions Colombia 2013 to 2020
Digital Music  Subscriptions Croatia 2013 to 2020
Digital Music  Subscriptions Czech Republic 2013 to 2020
Digital Music  Subscriptions Denmark 2013 to 2020
Digital Music  Subscriptions Finland 2013 to 2020
Digital Music  Subscriptions France 2013 to 2020
Digital Music  Subscriptions Germany 2013 to 2020
Digital Music  Subscriptions Greece 2013 to 2020
Digital Music  Subscriptions Hong Kong SAR, China 2013 to 2020
Digital Music  Subscriptions Hungary 2013 to 2020
Digital Music  Subscriptions India 2013 to 2020
Digital Music  Subscriptions Indonesia 2013 to 2020
Digital Music  Subscriptions Ireland 2013 to 2020
Digital Music  Subscriptions Italy 2013 to 2020
Digital Music  Subscriptions Japan 2013 to 2020
Digital Music  Subscriptions Malaysia 2013 to 2020
Digital Music  Subscriptions Mexico 2013 to 2020
Digital Music  Subscriptions Netherlands 2013 to 2020
Digital Music  Subscriptions New Zealand 2013 to 2020
Digital Music  Subscriptions Norway 2013 to 2020
Digital Music  Subscriptions Peru 2013 to 2020
Digital Music  Subscriptions Philippines 2013 to 2020
Digital Music  Subscriptions Poland 2013 to 2020
Digital Music  Subscriptions Portugal 2013 to 2020
Digital Music  Subscriptions Russia 2013 to 2020
Digital Music  Subscriptions Singapore 2013 to 2020
Digital Music  Subscriptions Slovak Republic 2013 to 2020
Digital Music  Subscriptions South Africa 2013 to 2020
Digital Music  Subscriptions South Korea 2013 to 2020
Digital Music  Subscriptions Spain 2013 to 2020
Digital Music  Subscriptions Sweden 2013 to 2020
Digital Music  Subscriptions Switzerland 2013 to 2020
Digital Music  Subscriptions Taiwan 2013 to 2020
Digital Music  Subscriptions Thailand 2013 to 2020
Digital Music  Subscriptions Turkey 2013 to 2020
Digital Music  Subscriptions United Kingdom 2013 to 2020
Digital Music  Subscriptions Venezuela 2013 to 2020

 

 

 

This report contains 46 figures and tables:

Figure 1  Worldwide Recorded Music – Trade Revenues shown for Physical and Digital Formats from 2013 to 2020 (USD, Billions)
Figure 2  Worldwide Recorded Music – Trade Revenues shown for all Digital Formats from 2013 to 2020 (USD, Billions)
Figure 3  Worldwide Recorded Music – Digital Subscriptions – Trade Revenues and Active Subscribers from 2013 to 2020 (USD, Billions)
Figure 4  Pandora – Growth in Active  Users from 4Q10 to 3Q14
Figure 5  Spotify Revenue shown separately for Subscriptions and Advertising from 2011 to 2013 (USD, Millions)
Figure 6  Pandora – Growth in Active Users from 4Q10 to 3Q14
Figure 7  Pandora vs. Twitter – Active Users (Ad-supported only) (U.S.) from 2009 to 2013
Figure 8  Average Revenue per MAU – Facebook, Twitter and LinkedIn from 2012 to 2014
Figure 9  Pandora vs. Twitter – Importance of Mobile (Worldwide) from 2012 to 2014
Figure 10  Pandora vs. Twitter – Advertising Revenues (U.S.) from 2011 to 2013
Figure 11  Pandora vs. Twitter - Percentage of Revenues from Advertising (U.S.) from 2009 to 2013
Figure 12  Pandora vs. Twitter - Average Ad Revenue per User per Year (U.S. from 2011 to 2013
Figure 13  Audio Streaming in the U.S. - Mar-14 / Mar-15 (Monthly listeners for Pandora, iHeart Radio, iTunes Radio and Spotify)
Figure 14  Users of Samsung’s Galaxy Smartphones have two music apps to choose from
Figure 15  Spotify Revenue shown separately for Subscriptions and Advertising from 2011 to 2013 (USD, Millions)
Figure 16  Audio Streaming in the U.S. - Mar-14 / Mar-15 (Monthly listeners for Pandora, iHeart Radio, iTunes Radio and Spotify)
Figure 17  This is HiFi. Tidal is not HiFi
Figure 18  Illustration of How Tidal HiFi Quality Compares with the Audiophile Formats on Offer at the Linn Download Store
Figure 19  Amazon Prime Music - Mobile Interfaces
Figure 20  iTunes Radio Interface for iPad
Figure 21  iTunes Station Editing Options for iPad and iPhone
Figure 22  iTunes Radio Social Sharing
Figure 23  Deezer Interface for Android Mobile
Figure 24  Deezer Offline Track Selection
Figure 25  Google Play Music Android App Interface
Figure 26  YouTube Music Key Ad-Free Option (Top) and Background Playback
Figure 27  Selected Xbox Music Devices (Top) and iPhone App Interface
Figure 28  Pandora Internet Radio Service
Figure 29  Pandora Interface
Figure 30  Usage of Internet Radio/Streaming in the U.S. in 2014 Pandora, iHeart Radio, iTunes Radio, Spotify and Google Play All Access
Figure 31  Audio Streaming in the U.S. - Mar-14 / Mar-15 (Monthly listeners for Pandora, iHeart Radio, iTunes Radio and Spotify)
Figure 32  Pandora -Growth in Active Users from 4Q10 to 3Q14 (Millions)
Figure 33  Pandora Mobile Interface for iPhone
Figure 34  Simfy Interface for PC/Mac and Mobile
Figure 35  Simfy Africa Interface
Figure 36  Samsung Milk Music (U.S. Variant)
Figure 37  Spotify Interface and Spotify for Mobile
Figure 38  Spotify - Subscription Revenue vs. Advertising Revenue
Figure 39  Audio Streaming in the U.S. - Mar-14 / Mar-15 (Monthly listeners for Pandora, iHeart Radio, iTunes Radio and Spotify)
Figure 40  Spotify on Connected Devices
   
Table 1  Increasing consumption of music with increased mobile usage – Pandora from 2009 to 2013
Table 2  Comparison between Deezer and Spotify
Table 3  Comparative Penetration Levels for Pandora, iTunes Radio and Spotify in the U.S.
Table 4  Semetric/Musicmetric Pro Dashboard - Example (Image credit: Music Ally)
Table 5  Digital Streaming Speeds and Quality – Spotify vs. Tidal

 

 

Executive Summary6

Concentration of supply9

Bundling10

Freemium11

Analysis of selected digital music subscription services12

Amazon12

Apple12

Google14

Pandora15

Spotify16

Tidal17

Analysis of Key Market Drivers19

Economic Fundamentals19

Economic basis for the streaming model20

Summary23

Structural Factors24

Concentration26

Bundling27

Freemium28

Detailed Analysis of Key Digital Music Companies30

Amazon30

Apple: Upcoming Subscription Service32

Positives: Factors that will help Apple’s new music service34

Negatives: Factors that will hinder Apple’s new music service36

Deezer40

Google44

Pandora45

Samsung57

Simfy59

Sony60

Spotify62

Sell to a trade buyer63

Achieve operating profitability63

Tidal68

Factual Profiles of Selected Music Service Providers72

Amazon72

Prime Music72

Amazon Music73

Cloud Player74

Apple76

Semetric Acquisition: Nov 1476

Beats Acquisition: May 1477

iTunes Radio: Sept 1377

iTunes Match: Nov 1180

Deezer84

Company Information84

Deezer Service Features84

Revenue Model87

User Growth and Revenues87

Acquisitions88

Key Competitors88

Google90

Google Play Music90

YouTube Music Key94

JB Hi-Fi: NOW (Australia)97

Microsoft98

Pandora101

Outline101

Company Background101

Pandora Service Features101

Service Options104

Usage on Mobile and Other Connected Devices104

Growth in Pandora’s User Base105

U.S. vs. International107

Rdio108

Rhapsody109

Simfy110

Outline110

Company Information110

Simfy Account Options111

Simfy Service Features111

User Growth112

Revenues113

International113

Social Media Integration114

Key Competitors115

Samsung116

Sony117

Spotify118

Outline118

Company Information118

Acquisitions119

Spotify Service Features119

Spotify Subscription Options121

Worldwide Availability121

Access via Connected Devices122

Revenue Model122

User Growth and Revenues123

Tidal (Jay Z /Aspiro)126

Appendix129

Regions & Countries129

Market Forecasts130

About the Authors131

Andrew Sheehy131

Sara Foster131