The global online music learning market was valued at USD 96.1 million in the year 2018. The rising internet penetration and smart devices have helped the music course providers to move from traditional classroom teaching to providing music course over the top driving the market growth. For instance, in April 2019, Berklee Online launched its first online Master’s degree program in Music Film Scoring. The ‘Master of Music in Film Scoring’ programme will educate students about techniques to analyse a film score at multiple musical as well as dramatic levels. This kind of move have allowed both the music E-learning and m-learning course providers to cut down on cost and deliver the same content at a lower price compared to the traditional one. Owing to the availability of music learning courses at lower price coupled with convenient On-The-Go Access, voluminous music learners are adopting to internet-based music learning driving the growth of the global online music learning market during the forecast period.
Availability and accessibility to social media platforms have enabled and encourage millennials to achieve the information they need to learn music. This trend is likely to continue and evolve in the future as free learning sources such as videos, podcast, and webinars are projected to flourish in demand. Thus, many of the key players such as Guitar Tricks, Hub Guitar, Coursera along with few others in the market are offering freemium services to attract the customer base and are charging an additional cost for extra services. These freemium services are attracting more and more music learner towards the digital platform driving the growth of the global online music learning market during the forecast period.
Key Segments of the Global Online Music learning Market
Pricing Model Overview, 2015-2025 (USD Million)
- Freemium Model
- Subscription Model
- Paid Tutoring Service Model
Regional Overview, 2015-2025 (USD Million)
- North America
- South America
- Middle East and Africa
Reasons for the study
- To understand the technological developments that are likely to boost the growth of the global online music learning market
- To study the developments in terms of products, features, and services offered by key players in the global online music learning market
- The purpose of the study is to give an exhaustive outlook of the global online music learning market.
- To understand the trends and opportunities that are likely to drive the growth of the market during the forecast period.
- To study the regional trends and demand patterns
- To study regulatory framework.
- To study the government rules and regulation and initiatives that are likely to impact the market dynamics.
- To understand the impactful developments of key players in the market, their strategic initiatives and comprehensively study their core competencies
- To study the growth of the Asia Pacific region especially country like India which is projected for strong growth.
- To study the key players in the market
What does the report include?
- The study includes an impact analysis of significant parameters such as drivers, restraints, and opportunities.
- Company profiles of the key players in the market which helped to us understand their strategies, key initiatives, market offerings, and financial performance.
- Analysis of strategic framework and market dynamics
- Forecast till 2025 by region
- Country-level market trends, rules & regulations of government bodies and associations
Who should buy this report?
This study is suitable for industry participants and stakeholders in the online music learning market. The report will benefit:
- Executives from online music learning market
- Strategic decision makers from the companies providing online music learning
- Stakeholders in the online music learning companies
- New entrants and start-ups in online music learning services or relevant markets
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative Online Music learning solutions
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The players in the market are experiencing tremendous growth and are hence focused on developing new products and services. For instance, in August 2019, Coursera introduced ‘Coursera Labs’, a new course offering that enables learners to get hands-on exposure with nearly all third-party software apk, without any additional environment setup and/or software downloads. Also owing to the massive growth opportunity in the market, key players have received funding. This funding shall help them in developing new products and services coupled marketing channels that shall attract more and more user towards internet music learning driving the growth of the global online music learning market. For instance, in October 2017, ArtistWorks Inc. announced the first closing of their Series A round and the completion of a $1.1M growth debt financing with Montage Capital. Similarly, in July 2018, Skillshare, the online learning community with thousands of classes in creative, business and tech disciplines, announced it had closed $28 million in new financing.
The key players in the market are Hub Guitar, Coursera, Udemy.com, Lynda.com, EdX, Skillshare, Inc, Guitar Tricks, FutureLearn, Takelessons, Berklee Online, ArtistWorks, Inc., JamPlay, LLC, TrueFire, Inc. MI Online (MIO), Class Central, Alison and others. The global online music learning market is fragmented as the market is marked by the presence of many regional as well as global players. Thus few of the key players are adopting to merger and acquisition as their key strategy to solidify their market position. For instance, in August 2019, FutureLearn, a PSG Group subsidiary, bought vocational education course provider College SA to expand its offerings in the distance learning market. Similarly, in April 2017, TakeLessons had acquired like-minded music app company Chromatik. Long Beach-based Chromatik, founded in 2010, develops digital sheet music and apps for music education.
The study has segregated the online music learning market into segments based on the respective revenue/monetizing/pricing models. As such we recognized three popular pricing models being adopted by various online music learning course providers.
- Freemium Model
- Subscription Model
- Paid Tutoring Service Model
The study reports Freemium model to be gaining popularity among course providers. This model enables engaged expansion of customer base and then monetization after change in habit of the users. Freemium model is anticipated to grow with the highest CAGR during the forecast period from 2019 to 2025.
Subscriptions are offered for a month, 3 months, 6 months and a year to capture audience across income segments. Paid Tutoring Service model is priced higher and is currently the smallest segment based on the revenue returns.
North America was the highest valued region in 2018 in the global online music learning market. The trends in the region are majorly driven by United States which was valued at USD 49.9 million in the year 2018. The growth in the region came owing to the penetration of smart technologies such as smart tablets, personal computers, smartphones and others coupled with high-speed internet services. This led to the emergence of massive open online course (MOOC) platform that allowed users to study courses at flexible timings coupled with easy accessibility and affordability. This drove the music learned toward online platform thus driving the growth of the global online music learning market during the forecast period.
Further, government initiatives in the region are boosting the growth of online music learning. For instance, the American Council on Education (ACE) recommended offering credit for five courses on the popular MOOC platform. This is an important step in the formal acceptance and approval of MOOCs for learning and assessment. Thus, MOOCs players such as Coursera, edX and FutureLearn along with many others have gained tremendous traction driving the growth of the global online music learning market.
Europe was the second-largest market in the global online music learning market. The increasing adoption of digital technology coupled with the increasing use of the internet-enabled device in online education has added to the popularity of personalized music learning in the European market. Further, interactive, experiential and immersive learning approaches are trending in the region driving the growth of the Europe in the global online learning market during the forecast period. In Asia Pacific country like India are projected to grow strongly owing to the widely growing popularity of the online music learning platform such as Udemy, Coursera and others.