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»And the world is like an apple whirling silently in space, Like the circles that you find in the windmills of your mind.« (›Windmills Of Your Mind‹ [1967]. Music by Michel Legrand ; English lyrics written by Alan & Marilyn Bergman)
a)It's a speaker company that uses WiFi to stream music to its speakers, the source of which can be locally stored media or that provided by online streaming services.
b)Or it's a WiFi household streaming service that can only be listened to by the speakers it sells.
I don't think it's quite accurate to call it a speaker company since they sell products with no speakers in them. In fact there first products had no speakers. As well, they don't sell any passive speakers as the vast majority of speaker companies would.
I'd suggest that Sonos itself provides zero actual content, just a path by which you can add others to their speakers, so they aren't a streaming service at all.
IMHO, they're neither. They're a technology company integrating speakers and/or audio hardware, and digital music playback (internet radio, playlists, etc.) into a consumer-oriented home audio product. They have speakers and non-speaker audio products. They don't make a passive speaker, like most "speaker companies" do.
They're not a music service, since they don't actually license music and provide it for customers to listen to... they provide a means to access other music services through their products.
Other than that it is not a streaming services provider, why does this matter?
Because the OP wanted to stir things up with an oft cited (and even more oft shot down) conspiracy theory that Sonos somehow makes money from streaming services instead of from selling hardware.