Streaming Services Market Report 2024 (Global Edition)

Global Streaming Services Market Report 2024 Market Size Split by Content Type (Music Streaming, Video Streaming), by Revenue Model (Advertising, Subscription), by Streaming Platform (Smartphone & Tab...

Streaming Services Market Report Description

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Streaming Services Market Insights Video

Competitive Landscape of the Streaming Service Market

The competitive landscape of the streaming service market is characterized by rapid innovation and content diversification. Companies continuously invest in original programming and exclusive deals to attract subscribers. Strategic partnerships with telecommunications providers and content creators are prevalent. As the market becomes increasingly saturated, maintaining customer loyalty and offering unique value propositions will be essential for platforms to succeed.

In May 2024, Disney Entertainment and Warner Bros. Discovery unveiled a new streaming bundle that combines Disney+, Hulu, and Max. Launched in the U.S., this offering aims to provide subscribers with exceptional value in entertainment and an unparalleled range of content from some of the most iconic brands, including ABC, CNN, DC, Discovery, Disney, Food Network, FX, HBO, HGTV, Hulu, Marvel, Pixar, Searchlight, Warner Bros., and more. The bundle will be available for purchase on the websites of any of the three streaming platforms, with options for both ad-supported and ad-free plans. (Source: https://thewaltdisneycompany.com/disney-hulu-max-streaming-bundle/#:~:text=The%20new%20bundle%20will%20be,shared%20in%20the%20coming%20months.) In January 2023, FOX Entertainment and Hulu announced a multi-year content partnership that includes in-season streaming rights for FOX’s extensive programming lineup, along with a comprehensive multi-platform strategic marketing alliance. As part of the agreement, all FOX primetime entertainment shows—including Family Guy, The Cleaning Lady, The Masked Singer, and Next Level Chef—will continue to be available for streaming on Hulu the day after their linear broadcast. Additionally, the partnership features a significant alliance, allowing for joint branding between FOX and Hulu across all FOX-owned and external marketing platforms, aligning the messaging for both live and on-demand viewing of FOX content. (Source: https://www.foxcorporation.com/news/business/2023/fox-entertainment-announces-multi-year-hulu-content-partnership/#:~:text=New%20York%2C%20NY%20and%20Los,by%20FOX%20Entertainment%20and%20Hulu)

Top Companies Market Share in Streaming Services Industry: (In no particular order of Rank)

• Netflix
• Amazon Prime Video
• Disney+
• Hulu
• HBO Max
• Apple TV+
• YouTube
• Peacock
• Roku
• Paramount+
• Sling TV
• Tencent Video
• iQIYI
• Sony Liv
• ViacomCBS
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Streaming Service Market

Which Region Dominates the Streaming Service Market in 2024?

According to Cognitive Market Research, North America currently dominates the streaming service market, and the region is expected to have significant growth during the projected period. This is driven by high disposable income and a strong preference for on-demand content. Major players like Netflix and Hulu have established extensive libraries, attracting a diverse audience. The region’s advanced internet infrastructure further supports seamless streaming experiences, making it a key market for streaming services.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). This is fueled by rapid urbanization and increasing smartphone penetration. The rising middle class and demand for localized content drive subscriptions. Additionally, the proliferation of affordable internet access enables broader audience reach, encouraging international platforms to invest in regional content, thus boosting market growth.

The current report Scope analyzes Streaming Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Streaming Services

According to Cognitive Market Research, the global streaming service market size was estimated at USD 107581.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 43032.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.7% from 2024 to 2031.

• According to Cognitive Market Research, The United States streaming service market is projected to witness growth at a CAGR of 20.5% during the forecast period, with a market size of USD 33,952.72 million in 2024. Rapid technological advancements and increased mobile usage are fueling demand for streaming services, enhancing consumer convenience and entertainment options.
The Canada streaming service market is projected to witness growth at a CAGR of 21.5% during the forecast period, with a market size of USD 5,163.91 million in 2024. Growing interest in diverse content and competitive subscription offerings are driving Canadian consumers toward streaming platforms for better value and accessibility. The Mexico streaming service market is projected to witness growth at a CAGR of 21.2% during the forecast period, with a market size of USD 3,915.97 million in 2024.

Europe Streaming Services

According to Cognitive Market Research, the global streaming service market size was estimated at USD 107581.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 32274.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.0% from 2024 to 2031.

• The United Kingdom streaming service market is projected to witness growth at a CAGR of 21.8% during the forecast period, with a market size of USD 5,422.11 million in 2024. The rise of original content and exclusive programming attracts UK viewers, leading to higher subscription rates and viewer engagement across platforms.
The France streaming service market is projected to witness growth at a CAGR of 20.2% during the forecast period, with a market size of USD 2,969.25 million in 2024. The Germany streaming service market is projected to witness growth at a CAGR of 21.2% during the forecast period, with a market size of USD 6,390.34 million in 2024. Enhanced internet infrastructure and a focus on localized content are encouraging German audiences to embrace streaming services, increasing overall market growth. The Italy streaming service market is projected to witness growth at a CAGR of 20.4% during the forecast period, with a market size of USD 2,775.60 million in 2024. The Russia streaming service market is projected to witness growth at a CAGR of 20.0% during the forecast period, with a market size of USD 5,002.54 million in 2024. The Spain streaming service market is projected to witness growth at a CAGR of 20.1% during the forecast period, with a market size of USD 2,646.50 million in 2024. The Luxembourg streaming service market is projected to witness growth at a CAGR of 21.1% during the forecast period, with a market size of USD 1,000.51 million in 2024. The Portugal streaming service market is projected to witness growth at a CAGR of 20.8% during the forecast period, with a market size of USD 677.76 million in 2024. The Greece streaming service market is projected to witness growth at a CAGR of 21.3% during the forecast period, with a market size of USD 387.29 million in 2024. The Rest of Europe streaming service market is projected to witness growth at a CAGR of 19.7% during the forecast period, with a market size of USD 5,002.54 million in 2024.

Asia Pacific Streaming Services

According to Cognitive Market Research, the global streaming service market size was estimated at USD 107581.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 24743.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.5% from 2024 to 2031.

• According to Cognitive Market Research, The China streaming service market is projected to witness growth at a CAGR of 24.0% during the forecast period, with a market size of USD 11,134.69 million in 2024. The increasing penetration of smart devices, coupled with expanding content libraries, is driving China's booming demand for streaming services across demographics.
The Japan streaming service market is projected to witness growth at a CAGR of 23.0% during the forecast period, with a market size of USD 3,414.64 million in 2024. The India streaming service market is projected to witness growth at a CAGR of 26.3% during the forecast period, with a market size of USD 2,969.25 million in 2024. With a burgeoning middle class and affordable internet access, India’s vast audience is increasingly gravitating toward streaming services for entertainment and education. The South Korea streaming service market is projected to witness growth at a CAGR of 23.6% during the forecast period, with a market size of USD 2,474.37 million in 2024. The Australia streaming service market is projected to witness growth at a CAGR of 24.2% during the forecast period, with a market size of USD 1,286.67 million in 2024. The South East Asia streaming service market is projected to witness growth at a CAGR of 25.5% during the forecast period, with a market size of USD 1,707.32 million in 2024. The Rest of Asia Pacific streaming service market is projected to witness growth at a CAGR of 24.3% during the forecast period, with a market size of USD 1,756.81 million in 2024.

South America Streaming Services

According to Cognitive Market Research, the global streaming service market size was estimated at USD 107581.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 5379.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.9% from 2024 to 2031.

• According to Cognitive Market Research, The Brazil streaming service market is projected to witness growth at a CAGR of 22.5% during the forecast period, with a market size of USD 2,302.24 million in 2024. A growing youth demographic, along with improved internet connectivity, is significantly driving Brazil's streaming service market, making it an attractive segment.
The Argentina streaming service market is projected to witness growth at a CAGR of 22.8% during the forecast period, with a market size of USD 903.68 million in 2024. The popularity of international series and localized content is drawing Argentine viewers to streaming platforms, enhancing engagement and subscription rates. The Colombia streaming service market is projected to witness growth at a CAGR of 21.7% during the forecast period, with a market size of USD 478.74 million in 2024. The Peru streaming service market is projected to witness growth at a CAGR of 22.1% during the forecast period, with a market size of USD 441.08 million in 2024. The Chile streaming service market is projected to witness growth at a CAGR of 22.2% during the forecast period, with a market size of USD 387.29 million in 2024. The Rest of Latin America streaming service market is projected to witness growth at a CAGR of 21.0% during the forecast period, with a market size of USD 866.03 million in 2024.

Middle East and Africa Streaming Services

According to Cognitive Market Research, the global streaming service market size was estimated at USD 107581.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 2151.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.2% from 2024 to 2031..

• The GCC Countries streaming service market is projected to witness growth at a CAGR of 23.0% during the forecast period, with a market size of USD 920.90 million in 2024. The rise in smartphone penetration and affluent consumers are pushing the GCC region toward streaming services, highlighting their potential for significant growth.
The Egypt streaming service market is projected to witness growth at a CAGR of 22.5% during the forecast period, with a market size of USD 225.92 million in 2024. The South Africa streaming service market is projected to witness growth at a CAGR of 23.2% during the forecast period, with a market size of USD 339.96 million in 2024. An expanding urban population and increasing interest in varied content genres are driving the growth of streaming services in South Africa. The Turkey streaming service market is projected to witness growth at a CAGR of 21.7% during the forecast period, with a market size of USD 185.04 million in 2024. The Nigeria streaming service market is projected to witness growth at a CAGR of 21.3% during the forecast period, with a market size of USD 225.92 million in 2024. The Rest of MEA streaming service market is projected to witness growth at a CAGR of 21.2% during the forecast period, with a market size of USD 253.89 million in 2024.

Streaming Services Market Analysis

Streaming Service Market Content Type Segment Analysis

According to Cognitive Market Research, video streaming are likely to dominate the streaming service market over the forecast period due to the increasing demand for on-demand content and the growing popularity of original programming. Consumers prefer binge-watching series and accessing a wide variety of films at their convenience. The proliferation of high-speed internet and smart devices enhances the viewing experience, encouraging more subscriptions and user engagement across diverse demographics.

The music streaming is the fastest-growing segment in the streaming service market as more consumers shift from physical media and downloads to digital subscriptions. The convenience of accessing vast libraries of music on-demand appeals to younger audiences. Additionally, the rise of social media integration and personalized playlists enhances user engagement, driving more people to subscribe to platforms. Affordable subscription models further support this trend, expanding market reach.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Streaming Services Industry. Request a Free Sample PDF!

Streaming Service Market Revenue Model Segment Analysis

According to Cognitive Market Research, the subscription segment holds the largest share of the market due to the growing preference for ad-free content and exclusive programming. Consumers value the convenience of uninterrupted viewing experiences and are willing to invest in quality content. The availability of diverse subscription plans caters to varying consumer needs, while the continuous introduction of original series and films further attracts and retains subscribers, driving revenue growth.

In the streaming service market, the advertising has been expanding at a rapid pace as platforms adopt ad-supported models to attract a broader audience. This approach enables consumers to access content for free, increasing user engagement. Advertisers are drawn to the vast reach of streaming platforms, leading to increased ad spending. Innovations in targeted advertising enhance effectiveness, making this model appealing to both consumers and businesses, fueling its growth in the market.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Streaming Services Streaming Platform Segment Analysis

Streaming Service Market Streaming Platform Segment Analysis

According to Cognitive Market Research, the smartphone & tablet segment holds the largest share of the market due to the increasing prevalence of mobile devices and the demand for on-the-go entertainment. Consumers enjoy the convenience of accessing streaming services anywhere, at any time. The development of user-friendly apps and optimized mobile experiences enhances user engagement, driving higher subscription rates and content consumption across diverse demographics.

In the streaming service market, the smart TV has been expanding at a rapid pace as more consumers embrace connected devices for their home entertainment. The integration of streaming apps into smart TVs offers seamless access to a wide range of content, enhancing the viewing experience. Increased availability of affordable smart TV models encourages adoption, while the trend towards larger screens drives demand for high-quality video streaming, further propelling growth.

• Smartphone & Tablet
• Laptop
• Smart TV
• Others

Streaming Services Vertical Segment Analysis

Streaming Service Market Streaming Vertical Segment Analysis

According to Cognitive Market Research, the music & entertainment segment holds the largest share of the market due to the widespread popularity of diverse content offerings, including movies, TV shows, and music. The demand for exclusive and original programming continues to rise, attracting subscribers. Additionally, the integration of social features enhances user engagement, while personalized recommendations make content discovery easier, driving higher consumption and retention rates.

In the streaming service market, the gaming has been expanding at a rapid pace fueled by the increasing popularity of eSports and live streaming platforms. Gamers are drawn to interactive experiences and community engagement, creating a dynamic environment for content consumption. The rise of subscription-based gaming services offers players access to a wide library of titles at affordable prices. Innovations in technology further enhance gameplay, attracting new users and increasing revenue potential.

• Education/E-learning
• Healthcare
• Government
• Sports/eSports
• Gaming
• Enterprise and Corporate
• Auction and Bidding
• Fitness & Lifestyle
• Music & Entertainment
• Others

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion