Music streaming and related services are still on the rise, boosted by faster network speeds and greater mobile penetration, say leading over-the-top players.Krittee Manoleehagul, managing director of Tencent Thailand and an executive of Joox Thailand, said music streaming has become a leading part of Thai digital lifestyles, a trend that is likely to increase globally. Smartphones are the primary device for music lovers, making up 75% of the streaming market. According to the International Federation of the Phonographic Industry (IFPI), income from the global music streaming market in 2017 grew to 41.1% of the music industry’s total income of US$17.3 billion. The music streaming market accounts for 38% of all music platforms, the largest revenue contribution, leading other physical music platforms such as CDs and records, which account for a 30% market share. In Thailand, Joox had more than 3 billion song plays in 2018, a 50% increase from 2016. Some 89% of Thai users listen to Thai music over international music, thanks to internet bandwidth improvement, data packages and affordable devices, and they opt for high-quality music streaming with more varied music genres. Joox users average 90 minutes a day on the music app, and 41% of users are… Read full this story
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