Discerning artists and individual music lovers are now taking advantage of music streaming platforms to access content provided by the respective service providers for their listening pleasure.
According to the new research report titled “Music Streaming Market – Global Analysis and Forecast to 2027”, the global music streaming market is expected to reach $46.99 billion by 2027 – recording a compound annual growth rate (CAGR ) by 7.4% in 2020 – 2027 .
The CAGR is one of the most accurate ways to calculate and determine returns on investments which may increase or decrease in value over time – assuming profits have been reinvested at the end of each period of the life of the investment. life of an investment.
According to the report published by global research firm The Insight Partners, “The digital music market is accelerating as consumers are attracted to purchase different content that they can access for free. Moreover, the availability of free trials and paid subscriptions plays an important role in boosting the application of digital music platforms.
All of these statements hold true on a local and regional level as well, as the reach of digital music streaming websites takes precedence over the musical storyline.
“With the emergence and growth of online content streaming and downloads as the primary means by which people access, listen to and acquire new music, our company, Mdundo.com, is devoting more time, effort , investment and innovation to support local Tanzanian artists. Millions of online users from inside and outside the country now have easy and direct access to new Tanzanian music and mixtapes daily from a wide range of artists and genres available on our platform,” says Frida Muraguli, Project Manager – Tanzania for Mdundo.com.
“The availability of cloud technology, regional music offerings, increased smartphone adoption, a digitally savvy population, advanced streaming apps, increased disposable income and lower data costs are some of the key aspects that are transforming the entire music streaming landscape,” said Mdundo’s marketing director. , East Africa, noted William.
“From April 1 to 30 of this Ramadhan season, Muslim believers can enhance their spiritual journeys every day by listening to and downloading exclusive Kaswida DJ debut mixes on Mdundo.com,” Project Manager – Tanzania confirmed for Mdundo. com. .
She said this first-of-its-kind premium offering is open to believers of all faiths, including other mainstream music enthusiasts. It offers direct access to Mdundo DJ’s premium mixtapes for as low as 100/-, 500/- or 3,000/- – per day, per week or per month respectively.