App Annie, the largest mobile app intelligence platform, released a report entitled “Mobile Music Streaming: Driving the Next Digital Revolution” to highlight the key role mobile plays in the shift of the digital music market from downloads to streaming music. The report identifies growth potential of mobile music streaming, top 10 apps worldwide that are driving usage, downloads and revenue, as well as upcoming trends of music streaming apps.
Some of the key insights from the report are:
Downloads from the Music & Audio category on Google Play grew 70% in India from Q3 2014 to Q3 2015.
India had impressive performance as a newcomer globally. Saavn and Gaana ranked #9 and #10, respectively, in the top 10 music streaming apps worldwide by active Android phone users in Q3 2015.
Spotify topped all the rankings of music streaming apps by revenue, download and active users worldwide in Q3 2015.
The top streaming apps worldwide saw data consumption per active Android phone user grow by 25% year-on-year while downloads increased by around 15% and revenue from in-app purchases doubled.
The recent music streaming app trends also highlight various monetization methods that the top music streaming apps use. In upcoming trends, monetizing via supplementary services appears to be on the rise to maximize revenue streams. The music streaming market has significant headroom for growth and poses various opportunities for both big names and emerging brands in the mobile space.
Download the complete rapport over here.
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