Streaming has fundamentally changed the way we consume media.
A streaming service is an on-demand source of online entertainment that allows consumers to access audio and video content. The providers of these services require membership fees that typically take two forms: either pay-per-view or subscription. However, free streaming is readily available in the form of user-made content on platforms such as YouTube.
Users can also check out live stream software that helps present a live feed over the internet. Live stream software helps users to produce and edit live stream videos, provides audio and mixing capabilities, supply tools to engage with the host and audience, and much more.
The streaming industry has undergone tremendous change and is expected to continue to do so for many years to come. It is at the forefront of how we consume media and being aware of the ways in which it is utilized can be a valuable asset for marketing campaigns and thought leadership in consumer practices moving forward.
The following numbers and statistics provide insights into how streaming services have been used over the past few years and how they’re likely to evolve through the remainder of 2024 and beyond.
General streaming statistics
From binging the latest TV sensations on demand to grooving to our favorite playlists with the tap of a finger, streaming services have woven themselves into the tapestry of our daily lives. Let's look at some general streaming statistics from 2024 and beyond.
- The global live-stream industry grew from USD 1.24 billion in 2022 to USD 1.49 billion in 2023. It is estimated to grow over USD 3 billion in 2027.
- Some of the key players in the live-stream market are social media platforms such as Twitch, Instagram, and Facebook.
- 50% of streaming users pay for a streaming service to avoid ads.
47%
users are paying for streaming services but aren't actively using them.
Source: Forbes
- Close to 1/3rd internet users have engaged with live streams as a type of video content they consume every week. Live concerts and music videos being the most popular category.
- The global pay-per-view live-stream market is expected to reach USD 2.4 billion by 2027 while e-learning is the main growth-driver of the industry.
- 20% adults between 18 to 34 watch live-stream videos multiple times a day.
- Americans spend an average of 3 hours and 9 minutes per day streaming digital media.
- An average american pays close to $46/month for streaming services.
- An average of 45% people have canceled a streaming subscription within the last year due to increase in price or because the cost was too high.
- 99% of all U.S. households pay for at least one or more streaming services.
- An average american pays close to $46/month for streaming services.
Music streaming statistics
From the surge in subscription-based services to the ever-expanding libraries of songs, here are some interesting statistics about music-streaming services and the expected growth over the next few years.
- The worldwide music streaming market is projected to reach a revenue of USD 29.60 billion in 2024
- Users spend an average of 20 hours and 6 minutes streaming music each week.
- Spotify is the most popular music streaming service. It holds a dominating 30.5% of the entire market share.
- Spotify holds close to 210 million subscribers.
- The music streaming industry is expected to show an annual growth rate (CAGR 2024-2027) of 4.70%, resulting in a projected market volume of USD 33.97 billion by 2027.
- United States is expected to generate the most revenue in the streaming marketing globally, reaching USD 12,110 million in 2024.
- By 2027, the number of users in the market is expected to amount to 1.1 billion users.
- The user penetration rate is expected to increase to increase to 14.1% by 2027 and is projected to be 12.7% in 2024.
- The average monthly cost for a music streaming subscription is $10.
- There are 90 million paid music streaming subscribers in the US
- 89% of the total music industry revenue is made up by music streaming services.
- Between 2010 and 2020, music streaming revenue experienced a meteoric rise, increasing approximately 34 times from USD 0.4 billion to USD 13.6 billion.
- Around 4 in 5 people listen to music using a streaming service.
- Ad-free listening is the top reason for paying for a music streaming platform.
Podcast streaming statistics
Podcasts offer a unique auditory experience, shaping conversations and connecting communities globally on various topics ranging from technology, current affairs, self-help, and much more. Here are some of the popular podcast streaming statistics.
- With over 82 million people listening to podcasts in 2021, the number is estimated to reach over 100 million in 2024.
- Sweden and Norway have the largest number of monthly podcast listeners by percentage of internet users.
- An average user spends 7 hours per week glued to their favorite podcast app.
- Among all podcasting platforms, Spotify and Apple Podcasts lead the charts.
50%
individuals between the age of 12 to 34 have listened to a podcast compared to 22% of those aged 55 and above.
Source: Satistia
- Podcast episodes between 20-40 minutes reign supreme, catering to busy schedules and attention spans.
- Podcast listenership transcends gender, with women slightly edging out men (48% vs. 43%).
- Video podcasts are on the rise, offering a new dimension to audio storytelling.
- Peak listening time in the morning, with most episodes enjoyed on mobile devices.
- Niche topics like education, business, and self-help are gaining traction.
- 68% of music streaming users listen to podcasts on the platform.
Video streaming statistics
As video streaming services become apparent, so does video streaming usage. These statistics showcase the increasing numbers of consumers using video streaming platforms.
- Netflix has the most subscribers of any streaming service with 260.28 million subscribers.
- 36% video stream users report that Netflix is their favorite platform in terms of interface and user experience. Amazon is favored by 14% video stream users globally.
- The over-the-top (OTT) video segment dominated the video streaming market with the highest share of 44.01% and a market revenue of 40.28 billion in 2022.
$43.97 billion
is the expected video streaming revenue in 2024.
Source: Forbes
- The global video streaming market size is valued at USD 106.83 billion as of 2023. It is expected to expand at a CAGR of 21.5% from 2023 to 2030.
- On an average, people are spending 3.1 hours streaming video content per day.
- In 2022, the live video streaming segment held the largest market share at 63.18% and a market revenue of 57.83 billion.
- Live video content generates 37% more engagement when compared to pre-recorded video.
- 70% of Twitch viewers donate to their favorite streamers.
Just a click away!
While the uses of streaming services might seem obvious at first glance, a lot of valuable insights can be gained from taking a deeper dive into the medium. It’s up to you to turn this information into a way to effectively leverage the ever-growing power of streaming services.
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by Sagar Joshi
