Streaming Media: Music - US - January 2014
“At $1.5 billion in advertising and subscription sales, the total revenue for the US streaming music market is small, and with high costs for music licensing, market leader Pandora has yet to show two consecutive quarters of profitability. In spite of these issues, leading tech companies are flocking to join the market, with an eye toward sales that might be a decade away, or a long-term transition from hardware and software sales to on-going services.” – Billy Hulkower, Senior Analyst, Technology and Media
This report looks at the following areas:
- Is there a barrier to entry?
- Why are the world’s largest tech firms in Pandora’s box?
- Is the ownership model for music dying?
Personalized streaming radio services (such as Pandora) are becoming one of the main ways people listen to music in their homes, at work, and in their cars, and the titans of tech are now crowding into this space. Apple and Google launched services in 2013, and major auto manufacturers are facilitating by building internet service into their latest models. Internet radio also provides a new means for brands to reach the digital consumer. This report examines how internet radio services can attract more subscribers, and how brands can best take advantage of this burgeoning media format via examining the efficacy of advertising in it.
This report covers internet-based streaming music programming, including personalized streams utilizing a thumbs up/thumbs down automated recommendation system, manually created (on-demand) playlists, and curated music stations online (which may also include terrestrial radio stations being rebroadcast online). Purchases for personal ownership are discussed as well, but the primary focus of the report is on personalized online streams.
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