Streaming media has fundamentally changed the way we consume media.
Streaming services are on-demand sources of online entertainment that allow consumers to access audio and video content. Providers of these services charge a membership fee, which usually takes two forms: pay-per-view or subscription. However, free streaming is readily available in the form of user-generated content on platforms such as YouTube.
Users can also check out live streaming software, which facilitates live broadcasting over the Internet. Live streaming software can help users create and edit live videos, provide audio and mixing functions, provide tools for interacting with hosts and audiences, and more.
The streaming industry has changed dramatically and is expected to continue to do so for many years to come. It is at the forefront of how we consume media, and understanding how media is used can be a valuable asset for thought leadership in marketing campaigns and consumer practices.
The following numbers and statistics provide insights into how streaming services have been used over the past few years and how they are likely to evolve through the remainder of 2024 and beyond.
General streaming statistics
From watching the latest TV shows on demand, to our favorite playlists at the tap of a finger, streaming services have become a part of our daily lives. Let’s take a look at some general streaming statistics for 2024 and beyond.
- The global live broadcast industry will grow from US$1.24 billion in 2022 to US$1.49 billion in 2023. It is expected to grow to over US$3 billion by 2027.
- Some of the major players in the live streaming market are social media platforms such as Twitch, Instagram, and Facebook.
- 50% of streaming users pay for streaming services to avoid ads.
47%
Users are paying for streaming services but not actively using them.
Source: Forbes
- Nearly one-third of Internet users use live streaming as a type of video content they consume every week. Live concerts and music videos are the most popular categories.
- The global pay-per-view live broadcast market is expected to reach US$2.4 billion by 2027, with online learning being the main growth driver for the industry.
- 20% of adults ages 18 to 34 watch live video multiple times a day.
- Americans spend an average of 3 hours and 9 minutes watching streaming digital media every day.
- The average American pays nearly $46 per month for streaming services.
- On average, 45% of people canceled their streaming subscriptions in the last year due to price increases or excessive costs.
- 99% of U.S. households pay for at least one or more streaming services.
- The average American pays nearly $46 per month for streaming services.
Music streaming statistics
From the proliferation of subscription services to ever-expanding song libraries, here are some interesting statistics about music streaming services and their expected growth in the coming years.
- The global music streaming market revenue is expected to reach US$29.6 billion in 2024
- Users spend an average of 20 hours and 6 minutes playing music each week.
- Spotify is the most popular music streaming service. It holds a dominant 30.5% share of the entire market.
- Spotify has nearly 210 million subscribers.
- The music streaming industry is expected to have an annual growth rate (compound annual growth rate from 2024 to 2027) of 4.70%, and the market size is expected to reach US$33.97 billion by 2027.
- The United States is expected to generate the most revenue from global streaming media marketing, reaching $12.11 billion by 2024.
- By 2027, the number of market users is expected to reach 1.1 billion.
- The user penetration rate is expected to increase to 14.1% by 2027, and is expected to reach 12.7% in 2024.
- The average monthly cost of a music streaming subscription is $10.
- There are 90 million paid music streaming subscribers in the U.S.
- 89% of the total music industry revenue comes from music streaming services.
- Between 2010 and 2020, music streaming revenue grew rapidly, from US$400 million to US$13.6 billion, an increase of approximately 34 times.
- About four out of five people use streaming services to listen to music.
- Ad-free listening is the top reason to buy a music streaming platform.
Podcast streaming statistics
Podcasts provide a unique listening experience that creates conversations and connects global communities on a variety of topics including technology, current affairs, self-help and more. Here are some popular podcast streaming statistics.
- More than 82 million people listened to podcasts in 2021, and this number is expected to exceed 100 million by 2024.
- Sweden and Norway have the largest number of monthly podcast listeners as a percentage of online users.
- Users spend an average of 7 hours per week addicted to their favorite podcast app.
- Of all the podcast platforms, Spotify and Apple Podcasts top the list.
50%
People aged 12 to 34 have listened to podcasts, while 22% of people aged 55 and over have listened to podcasts.
Source: Satishya
- Podcasts between 20 and 40 minutes reign supreme, catering to busy schedules and attention spans.
- Podcast listeners transcend gender, with women slightly outnumbering men (48% vs. 43%).
- Video podcasts are on the rise, providing a new dimension to audio storytelling.
- Mornings are peak listening time, with most episodes watched on mobile devices.
- Niche topics such as 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 more and more visible, so does the use of video streaming. These statistics show the growing number of consumers using video streaming platforms.
- Netflix has 260.28 million subscribers, the most of any streaming service.
- 36% of video streaming users said Netflix is their favorite platform in terms of interface and user experience. Amazon is favored by 14% of global video streaming users.
- The OTT video segment dominates the video streaming market with the highest share of 44.01%, with market revenue of US$40.28 billion in 2022.
$43.97 billion
is the expected video streaming revenue in 2024.
Source: Forbes
- As of 2023, the global video streaming market will reach US$106.83 billion. It is expected that the compound annual growth rate from 2023 to 2030 will reach 21.5%.
- People spend an average of 3.1 hours a day streaming video content.
- In 2022, the live video broadcast field will account for the largest market share, reaching 63.18%, with market revenue reaching 57.83 billion.
- Live video content generation 37% increase in engagement Compared to pre-recorded videos.
- 70% of Twitch viewers donate to their favorite streamers.
All it takes is one click!
While the purpose of streaming services may seem obvious at first glance, there are many valuable insights that can be gained by delving deeper into the medium. You can turn this information into ways to effectively harness the growing power of streaming services.
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