Music - Northern Africa
Northern Africa- The Music market in Northern Africa is set to witness substantial growth in the coming years.
- According to projections, the total revenue in this market is expected to reach a staggering US$5.53m by 2022.
- Furthermore, the market is expected to exhibit a strong compound annual growth rate (CAGR) of 13.33% from 2022 to 2027, resulting in a projected market volume of US$10.92m by the end of the forecast period.
- Within the Music market, in-app purchase (IAP) revenue is also expected to experience significant growth, reaching US$908.60k in 2022.
- On the other hand, paid app revenue is projected to be negligible, amounting to US$0.00 in the same year.
- Moreover, advertising revenue is anticipated to play a crucial role in the Music market, with projections indicating that it will reach US$4.62m in 2022.
- In terms of user engagement, the number of downloads in the Music market is estimated to reach an impressive 32.37m downloads in 2022.
- Currently, the average revenue per download is expected to be US$0.17.
- These figures highlight the significant market potential and opportunities available in the Music market.
- When compared globally, it is noteworthy that United States leads the way in terms of revenue generation in the Music market.
- Projections indicate that United States is expected to generate a substantial revenue of US$4.48bn in 2022.
- This emphasizes the dominance of the US market within the Music market industry.
- Key regions:
- Asia,
- Europe,
- United States,
- India,
- South Korea
Definition:
The Music market contains apps that enable users to listen to a wide variety of music and audio files. The most popular apps are Spotify and Pandora, music streaming services whose advanced recommender systems help users to discover new artists based on their current tastes and create unique music playlists. Meanwhile, through cutting-edge technology, the Shazam app is able to identify any piece of music, even in noisy environments. Apps that support the composition, performance, and/or recording of music also fall into this category.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
