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    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

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    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

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    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

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    Africa will have 57 million pay TV subscribers by 2028, report

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    Africa startups defy funding slump as debt financing fuels growth

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    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

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    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Trending Tags

  • Business
    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

  • Finance
    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

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The global online music streaming market to reach $29 billion by 2027, report

TAB by TAB
17/01/2023
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The global online music streaming market to reach $29 billion by 2027, report
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The global online music streaming market size reached $ 16.11 Billion in 2021 with the market set to reach $ 29.66 Billion by 2027, exhibiting a Compound Annual Growth Rate of 10.71% during 2021-2027. This is according to a recent report by Research and Markets.

Presently, several companies are introducing smart devices, such as Amazon’s Alexa and Google Cast, to stream music online with hands-free control and instant playback features. With the escalating demand for these smart devices, on account of rapid urbanization, inflating disposable incomes and the emergence of smart homes, the demand for online music streaming applications is escalating worldwide.

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Growing dependency on smartphones, increasing penetration of the internet and the thriving media and entertainment industry are among the key factors stimulating the growth of the online music streaming market worldwide.

Moreover, easy access to music on multiple devices, along with the rising trend of on-demand songs, are driving the market growth. Apart from this, the integration of online music streaming applications with social media platforms allows users to create and share collaborative playlists with acquaintances. They also offer young artists a platform to upload and promote their tracks and reach a wider audience.

Furthermore, digital service providers (DSPs) are launching applications with a user-friendly interface and a huge library of music and podcasts. These providers are also offering attractive premium plans, such as family packs or free subscription for a few months, which, in turn, is anticipated to bolster the market growth in the coming years.

Source: African Business Communities
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