Streaming’s next growth phase The necessity of differentiation
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DSPs have long been able to grow their subscriber bases despite all offering essentially the same experience. Yet the freemium model is reaching a saturation point, putting slow but steady pressure on DSPs to find new ways to grow subscribers and revenue. Most remaining people who do not already pay for streaming either lack enough interest in music or cannot afford to subscribe. The cost-of-living crisis, the attention recession, and growth of non-DSP streaming as a free alternative will make converting these consumers even more challenging. The path forward necessitates that DSPs change and evolve their offerings, giving way to the format’s first phase of differentiation.
Companies and brands mentioned in this report: Amazon, Amazon Music, Amp, Apple, Apple Fitness+, Apple Music, Apple One, Audible, Audiomack, Bandcamp, ByteDance, Criterion Collection, Deezer, Dreamstage, Driift, GarageBand, Google, Instagram, iPhone, Logic, Meta, NetEase Cloud Music, Netflix, Peloton, Platoon, Repost, Resso, SoundCloud, Soundtrap, Spotify, Tencent Music Entertainment, TIDAL, TikTok, YouTube, YouTube Music, and YouTube Shorts