Thursday 12 February 2015, Amsterdam
The new report recognizes the following companies as the key players in Global Music and Video Market: Amazon.com Inc., Apple Inc., Google Inc., Microsoft Corp., Rdio Inc., Sony Corp., Spotify AB, Aspiro, Beats Electronics LLC, Bertelsmann SE & Co. KGaA, Best Buy Co. Inc., Blinkbox Music, Carrefour SA, Deezer, Entertainment One Ltd., Gaana.com, Grooveshark, Guvera, HMV Retail Ltd., Hungama MyPlay, Indigo Books & Music Inc., JB Hi-Fi Pty Ltd, Last.fm, Metro AG, Mixcloud, MOG, Myspace LLC, Nokia Mixradio, Rara, Rhapsody, Saavn LLC, Samsung Music Hub, Slacke, Songl, Songza, SoundCloud, Thumbplay, TuneIn Radio, Wal-Mart Stores Inc., We Are Hunted.
Commenting on the report, an analyst from the reports team said: “Metadata is the information embedded in a music file that provides information about its audio content such as the track name, artist's name, and bit rate. The introduction of digital music has increased the importance of metadata. Vendors in the Global Music and Video market are exploring this field to integrate various features such as lyrics and sing-along into the audio file. This provides market vendors with a selling point, which will drive market growth during the forecast period.”
According to the report, one of the key factors influencing the growth of the Global Music and Video market is an upsurge in subscription services for the digital formats of music and video. The rise of social media platforms such as Facebook has led to an increase in music subscriptions worldwide as more music streaming applications are integrated with social network sites.
Further, the report states that the market is witnessing a decline in the sales of physical format of music and video because of a rise in popularity of digital formats.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.