Music learning market overview
Today, more people are learning an instrument these days as their interest, and also the exposure to it is at an all-time high. At any given moment, millions of people live the latest songs from populated singers or watch their performances on YouTube. Recent research has revealed that many politicians, businessmen, and many other successful people who learned a type of musical instrument at a young age.
To take an in-depth look at the online music learning market, we need to search for reliable resources. After doing research, we came to this conclusion that the music learning market is extending due to its benefits such as reducing a stress, producing patients, developing music appreciation, cultivating creativity, using most parts of our brain, strengthening our immune system, increasing our memory capability, increasing time management skills, and many more.
Key findings on choosing online music learning courses:
· Schools that offer students music programs have an estimated 90.2% graduation rate and 93.9%attendance rate in comparison to schools without music education, with an average of 72.9% graduation and 84.9% attendance.
· A study of 7,500university students revealed that music majors scored the highest reading scores among all majors, including English, biology, chemistry, and math.
· 95% of Americans in a Gallup Poll believe that music is a critical component in a child’s well-rounded education.
· 54% of American households reported having a least one musical instrument player, the highest figure since the study began in 1978.
Market size and forecast
As every kind of music learning course and materials are available today at lower prices, more people are volunteer to learn music based on the internet. The growth of the global and music learning market is almost predictable. The 3 top countries in this field are:
India: Right now, the Online education market would be something around Rs 80 Billion ($1.1 Billion)in India, but the value of 360 Billion in the next years is expected.
USA: The value in the US is about $172 Billion, growing at 11% every year.
China: It is surprising to know that The Online education market is around $450 Billion, growing at 11% every year.
We need to know that with all the information provided about music learning's market size, it is impossible to estimate. Many online music courses are not involved in the statistics as they are counted as personal tutoring.
Global Online Music Learning Market is segmented in three ways:
· Freemium Model in which you are not required to pay for what you learn. Many suggest free courses and/or some free sessions to gain experience, advertise or raise popularity.
· The Subscription Model, as in social media, offers something you might need, but you have to help them gain more followers in return.
· Paid Tutoring service Model in which you pay for your courses and attend classes.
2. by application
· The musical instruments you want to learn to play include piano, guitar, drum, etc.
3. by region
· The Geography you might be from North America (USA, Canada), South America (Brazil, others), Europe (Germany, France, United Kingdom, others),Middle East and Africa, Asia Pacific (China, Japan, India, others)
Opportunities for the online music learning and threats against it
Why do we need to take online music classes? The following reasons can remind of us the need for it.
· We do not have to leave your house to learn music. Everything is in access, and the materials provided for the course are very various and exciting.
· We save a lot of time and money by staying home attending classes over the Internet. Also, the time and schedules are very flexible in choosing.
· If we take personal online courses, it will be way effective and focused on the target.
· With the coronavirus pandemic, the demand for online classes will increase. Along with that, the online learning platforms, and technological tools will improve and some might change for the better.
· More people are getting to know more about online platforms to get the advantages for education and self-improvement.
· More instructors and teachers are busy teaching, which is enough money-making. Also, we are free to choose whom to have the whole course with.
· There is the possibility to record the sessions and watch them over and over again.
There are also threats that may ruin online learning courses:
· Technical issues may happen and all we have to do is to be mindful.
· More musicians mean more latency problems!
· Lack of time and suitable lesson plan
· Power outage and Internet disconnection
· Competition between platforms, censorship, a constant need for updates