The online music education market is on the rise: Startups move in
As the pandemic locked us in our houses, the global growth of e-learning in 2020 was 36.6%, so that the market size is expected to touch US$374 billion by 2026. While online music education market forms a small part of this, it too has seen a jump because of the pandemic. The global market size for online music learning is expected to touch US$143 million by 2025.
While this gap is evident, here in lies an opportunity for startups and tech companies. After all, pandemic or no pandemic, Indians love their music. It is no wonder that several innovative music teachers and schools started remote online classes.
The online music education market is big for solo learners. The more than a million YouTube tutorials are an example. There are also many institutions that are creating music tutorials for free.
Now, as we carry on with the pandemic, fearing physical contact, this market is increasing.
Recently, Muzigal, an online music learning platform that connects teachers and students, announced its global expansion plans to Australia, the Middle East, and East Asia.
With the growth rate estimated to be 10X in the next 18 months, Muzigal will cater to both the Indian diaspora and native music learners worldwide. The expansion, close on the heels of strong revenue growth in the first half of 2021, is targeted to garner organic interest from these regions.
Muzigal’s expansion plans provide a full stack earning platform to professionals, helping them nurture, grow and express their creativity across borders. For learners, Muzigal is opening endless possibilities of customised learning for adults and global music certifications through structured curricula like Trinity, ABRSM and Rockschool.
While providing an opportunity for professionals to earn, platforms like Muzigal and others such as Tonara and Nafme, are also providing structured curricula.
The online music education market is big for solo learners. The more than a million YouTube tutorials are all the evidence needed. There are also many apps that give a great opportunity to beginners. Apps such as Yousician, Simply Piano, Garage Band, and SingTrue are very popular among young learners.