US Streaming Market Poised To Hit $23.69B By 2030

The US music streaming market is projected to more than double from $11.05 billion in 2024 to $23.69 billion by 2030, according to a new market analysis released this week.

The forecast represents a robust 13.4% compound annual growth rate, driven by strategic shifts toward exclusive artist collaborations and enhanced subscriber loyalty programs.

Why it matters:

This growth trajectory signals a fundamental shift in how streaming platforms compete for market share.

• Platform differentiation: Services must now compete on exclusive content rather than catalog size alone.
• Artist opportunities: Growing market creates more direct-to-fan monetization channels beyond traditional streaming.
• Investment targets: Labels and managers should prioritize artists with strong cross-device engagement patterns.

Zoom in:

Exclusive content drives premium subscriptions

Research shows platforms investing in artist exclusives see 23% higher subscriber retention rates.

Spotify's recent exclusive partnerships with podcast creators generated $17,000+ monthly revenue for top earners within 30 days of launch.

Cross-device consumption patterns

Consumer preference for seamless cross-device experiences is accelerating market expansion beyond traditional smartphone-only models.

Smart speaker integration and in-car streaming now represent 31% of total listening hours, up from 18% in 2023.

By the numbers:

• $11.05 billion: Current US streaming market value in 2024
• 13.4% CAGR: Projected compound annual growth rate through 2030
• 75%: Percentage of Americans who actively consume digital music
• 36%: Increase in video podcast consumption since exclusive content partnerships launched

The catch:

Growth projections assume continued consumer willingness to pay premium prices despite economic pressures.

Recent data shows streaming subscription growth slowing to 4% year-over-year, down from 9% in 2021.

International competition intensifies

US platforms face increasing pressure from international services offering localised content at lower price points.

Markets like India and Brazil are growing faster than US projections, potentially shifting global streaming power dynamics.

What's next:

Platform consolidation expected

Industry analysts predict 2-3 major streaming mergers by 2026 as smaller platforms struggle to compete on exclusive content costs.

Super-premium tiers incoming

Spotify and Apple Music are both developing "superfan" subscription tiers priced 40-60% above current premium offerings.

The bottom line:

The doubling of US streaming market value creates massive opportunities but requires strategic positioning around exclusive content and premium experiences.

Labels and artists who secure exclusive partnership deals now will capture disproportionate revenue as the market expands.