MUSIC STREAMING MARKET Challenges and Opportunities

One of the major challenges faced by the music streaming market is the lack of consistent and reliable internet connectivity across various regions. Music streaming requires a stable internet connection to play songs and listen to playlists. However, in many developing markets and remote rural areas, internet penetration is still low and connectivity remains unreliable. This poses a significant roadblock for growth of music streaming services. People in such areas often experience buffering, delays and disruptions while using streaming platforms. This significantly impacts the user experience and engagement. As a result, adoption of streaming remains low in locations with poor network infrastructure.

Music Streaming Market Opportunity: Bundling with other services

One of the major opportunities for growth in the music streaming market is bundling streaming services with other offerings. Music streaming platforms can partner with telecom operators and bundle their subscription plans along with mobile and broadband internet packs. This will make streaming more affordable for users and incentivize them to opt for premium paid tiers. The platforms can also bundle music streaming with video and audio OTT platforms to provide more value and entertainment options to subscribers. Bundling music streaming along with other digital and lifestyle services like online shopping discounts and commerce packages can further boost subscriber additions. By adopting such bundling strategies, the streaming companies can leverage synergies, drive higher engagement with composite service usage and benefit from expanded customer reach through partnerships.