It is expected that United States streaming revenue have a 33% increase in 2019, at least according to this report.
Despite the signs that streaming growth is slowing down, total revenues continue to increase dramatically. According to the Sales and Predictions of Technology consumption in the United States by the Technology Consumer Association, it is projected that 2019 will be a good year for this sector, with continued growth waiting for you.
It is worth mentioning that this report is published twice a year, in July and January.
Specifically, the association indicated that revenues from “music on demand services” will reach the mark of 8.4 billion dollars during the year 2019 – which indicates a growth of 33%. This continuous growth in music services subscriptions comes hand in hand with a large increase in the number of smart speakers and innovative mobile devices, including smart watches and wireless headphones.
In the same report, wireless headphones will have a volume of 50% in both revenue and sales, while smartwatches will experience 20% growth above 2018 levels. These data are really positive figures if you Keep in mind that these two devices have been on the market for less than a decade (and it would even be more accurate to say five years).
More interesting is the fact that another streaming category is emerging; This points to the flexibility that exists in terms of subscription business models at the national level (and perhaps worldwide).
On the other hand, video streaming revenues will reach 18.00 million dollars in 2019, according to the CTA; This is an increase of 25% compared to 2018.
In addition, the streaming of video games, memberships and micro-transactions will be coordinated to generate almost 40,000 million dollars in 2019, representing an increase of 11%.
Perhaps an important point to mention is that CTA figures may be a bit high, because consumers are quickly heading to the subscription of services – especially music streaming services. As a result, almost half of the remaining music formats (except vinyl) are lagging behind, including the famous iTunes.
Spotify, Apple Music, Amazon Music and Pandora They are all involved in the same pitch when it comes to securing new subscribers, and convincing existing subscribers to change service.
For now, companies have little to improve in terms of attracting new customers: the market is taking care of that. But as overall growth slows down, these brands are going to need to attract new subscribers with better offers and options, and it probably seems that customers will continue to earn for another time.
You can read the full note here.
Did you like the article?