Streaming Pricing Solid Outlook but Slowing Demand
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The 20,000 Foot View: Across a wide selection of Western countries, the streaming music and video subscription markets are reaching a high degree of maturity. As saturation for core products nears, further growth will depend upon factors such as pricing innovation and multiple subscriptions per household. This report uses new MIDiA consumer data to demonstrate the likely future adoption of music and video subscriptions, the impact of inflation on real-terms pricing and also a pricing elasticity model for music.
Key Insights
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of non-subscribing consumers are very likely to subscribe, translating to of the addressable market remaining for near-term, likely adoption
- For longer-term of the addressable opportunity remains, to more than in Brazil India of non-music subscribers are very likely to subscribe – which means that just of the near-term addressable opportunity remains
- Growth in could be challenging, with just non-streamers very likely to pay of non-subscribers are very likely or somewhat likely to pay for a music subscription
- Strong physical Germany and Japan rate among lowest likelihood to pay, illustrating challenge of converting physical buyers digital
- Music subscriptions price inelastic
Companies and brands mentioned in this report: Apple, Apple TV+ Amazon, Amazon Prime Video, Disney, Disney+, ESPN+, Hulu, Netflix