Data on the distribution of streamed music consumption in the United States showed that rock music accounted for ** percent of all on-demand audio and video streams in 2021. The leading genre by streams was, as is almost always the case, R&B and hip-hop. Most streamed artists The demand for streamed audio content is growing year by year, and in 2021, the number of paid music streaming subscribers in the United States exceeded ** million. So which musicians are topping the digital charts? Based on the most recent data, The Weeknd, Justin Bieber, and Ed Sheeran were the top artists on Spotify based on monthly listeners in 2022. The top-10 ranking was visibly dominated by pop singers and bands that year, although Doja Cat and Eminem were the acts that amassed the largest monthly audience within the R&B and hip-hop genre. Keeping it classical A closer look at the distribution of music consumption in the U.S. by genre and format reveals that fans of jazz, rock, and classical music were among the most likely to listen to artists via physical formats. Between ** and ** percent of surveyed respondents stated that they listened to these genres via physical albums, which was above the industry average. One reason for this sense of audio nostalgia could be that these genres are particularly popular with listeners from older, less tech-savvy generations.

Physical albums accounted for less than ** percent of music consumption in the United States in 2021. While fans of jazz or rock music were most likely to listen to artists via physical formats, the vast majority of listeners across all genres enjoyed their favorite tracks through on-demand streaming services. Stream it, just stream it A closer look at the distribution of streamed music consumption reveals that R&B and hip-hop is the most streamed music genre in the United States. Roughly ** percent of all streams came from this genre in 2021, which can at least partially be explained by its popularity among young and digitally savvy listeners. The overall demand for streamed audio content is growing rapidly each year, and in 2021, the number of paid music streaming subscribers in the U.S. surpassed a record ** million. That same year, nearly one trillion music streams were amassed in the United States alone, signaling a bright future for services like Spotify or Amazon Music. So which artists were audiences listening to? Most popular songs In 2021, "Levitating" by Dua Lipa was the most popular song in the U.S. based on audio streams. The track from her second studio album "Future Nostalgia" was streamed a total of *** million times while also ranking among the top three best-selling digital music singles worldwide. Looking at the artists with the most streams overall that year, Olivia Rodrigo topped the charts with a combined **** billion streams for her songs "drivers license" and "good 4 u".

Pop and hip-hop had the highest revenue shares with **** and ** percent respectively. Rock was another noticeable revenue generator, but the same can’t be said for traditional German folk music. Face the music Musical sales revenue in Germany (from both physical and digital sales) has been in decline for the last 15 years. Physical sales especially have suffered after the widespread rise of music streaming services not just in Germany, but across Europe. In 2024, musical sales revenue amounted to almost **** billion euros. In terms of genres, by comparison some provoked interest among smaller amounts of the population, for example classical or the aforementioned German folk and brass music. The most popular music genres among German listeners were pop, hip-hop, and rock. Streaming revenue Music streaming revenue in Germany is predicted to grow during the 2020s, if at a gradual pace, while the opposite is expected of music downloads. By 2027, music streaming revenue is forecast to amount to **** billion U.S. dollars. This is due to the increase in popularity of apps such as Spotify and Apple Music.

Music Market Outlook

The global music market is projected to experience significant growth, with a market size reaching approximately USD

29.6 billion in 2024 and expected to soar to over USD 65 billion by 2033, reflecting a compound annual growth rate (CAGR) of about

9.00%. This remarkable expansion is driven by several growth factors, including the proliferation of digital platforms, increasing internet penetration, and the rising demand for diverse music genres and formats across various demographics. The rapid advancement in technology has also played a pivotal role in transforming how music is consumed, distributed, and monetized, further fueling market growth.

One of the primary growth factors for the music market is the ubiquitous rise of digital platforms, which have revolutionized the way music is accessed and consumed. Services such as Spotify, Apple Music, and Amazon Music have made it easier than ever for consumers to explore and enjoy a wide array of music from around the world. These platforms offer extensive libraries, personalized playlists, and various subscription models, enhancing user experience and driving subscription-based revenue streams. Moreover, advancements in AI and machine learning have enabled these services to offer highly personalized recommendations, engaging listeners and increasing user retention rates.

Additionally, the increasing availability and affordability of high-speed internet have expanded the reach of music streaming services to emerging markets, further contributing to market growth. As smartphones and smart devices become more widespread, particularly in regions like Asia Pacific and Latin America, more consumers are accessing digital music content than ever before. This has opened new avenues for artists and producers to reach global audiences without the traditional barriers posed by physical distribution. The democratization of music distribution has also led to a surge in independent artists, who are now more empowered to create, promote, and monetize their music through various online platforms.

Furthermore, the diversification of music genres and the growing appeal of global music trends have significantly influenced market dynamics. Genres like K-pop, Latin pop, and Afrobeat are gaining international popularity, attracting new listeners and generating substantial revenue. This cross-cultural exchange is facilitated by digital platforms that allow music from different parts of the world to be easily accessible to a global audience. As a result, the music market is witnessing a shift in consumer preferences, with listeners increasingly exploring and embracing diverse music styles, leading to a broader and more inclusive music industry.

The rise of Online Music Education is another transformative trend in the music industry, offering new opportunities for learning and engagement. As digital platforms continue to evolve, they are not only changing how music is consumed but also how it is taught. Online Music Education platforms provide accessible and flexible learning options for students of all ages, enabling them to learn from renowned instructors and musicians from around the world. These platforms often offer a wide range of courses, from beginner to advanced levels, covering various instruments, music theory, and production techniques. This democratization of music education allows aspiring musicians to hone their skills and gain valuable insights without the constraints of traditional classroom settings. Furthermore, the integration of interactive tools and resources enhances the learning experience, making it more engaging and effective for students.

Regionally, North America remains a dominant player in the music market, thanks to its well-established music industry and technological infrastructure. However, the Asia Pacific region is anticipated to witness the highest growth rate over the forecast period, driven by the increasing adoption of digital music streaming services and the rising popularity of local music genres. Europe also plays a significant role in the global music scene, with its rich cultural heritage and strong music industry presence. Latin America and the Middle East & Africa, while currently smaller ma

MGD: Music Genre Dataset

Over recent years, the world has seen a dramatic change in the way people consume music, moving from physical records to streaming services. Since 2017, such services have become the main source of revenue within the global recorded music market. Therefore, this dataset is built by using data from Spotify. It provides a weekly chart of the 200 most streamed songs for each country and territory it is present, as well as an aggregated global chart.

Considering that countries behave differently when it comes to musical tastes, we use chart data from global and regional markets from January 2017 to December 2019, considering eight of the top 10 music markets according to IFPI: United States (1st), Japan (2nd), United Kingdom (3rd), Germany (4th), France (5th), Canada (8th), Australia (9th), and Brazil (10th).

We also provide information about the hit songs and artists present in the charts, such as all collaborating artists within a song (since the charts only provide the main ones) and their respective genres, which is the core of this work. MGD also provides data about musical collaboration, as we build collaboration networks based on artist partnerships in hit songs. Therefore, this dataset contains:

Genre Networks: Success-based genre collaboration networks

Genre Mapping: Genre mapping from Spotify genres to super-genres

Artist Networks: Success-based artist collaboration networks

Artists: Some artist data

Hit Songs: Hit Song data and features

Charts: Enhanced data from Spotify Weekly Top 200 Charts

This dataset was originally built for a conference paper at ISMIR 2020. If you make use of the dataset, please also cite the following paper:

Gabriel P. Oliveira, Mariana O. Silva, Danilo B. Seufitelli, Anisio Lacerda, and Mirella M. Moro. Detecting Collaboration Profiles in Success-based Music Genre Networks. In Proceedings of the 21st International Society for Music Information Retrieval Conference (ISMIR 2020), 2020.

@inproceedings{ismir/OliveiraSSLM20, title = {Detecting Collaboration Profiles in Success-based Music Genre Networks}, author = {Gabriel P. Oliveira and Mariana O. Silva and Danilo B. Seufitelli and Anisio Lacerda and Mirella M. Moro}, booktitle = {21st International Society for Music Information Retrieval Conference} pages = {726--732}, year = {2020} }

According to Cognitive Market Research, the global Music market size is USD 8951.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 12498.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 9373.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 7186.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 1562.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 624.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The Live Streaming Type of Streaming held the highest Music market revenue share in 2024.

Market Dynamics of Music Market

Key Drivers for Music Market

Growth of platforms like Spotify, Apple Music, and YouTube Music to Increase the Demand Globally

The growth of streaming platforms like Spotify, Apple Music, and YouTube Music is driving the music market by fundamentally changing how music is consumed and distributed. These platforms offer extensive music libraries accessible to users globally, allowing listeners to explore a vast array of genres, artists, and playlists conveniently on-demand. For artists and music labels, streaming platforms provide a new revenue stream through royalties based on streams, expanding their reach beyond traditional album sales. Independent artists also benefit from the democratization of distribution, gaining exposure to a global audience without the need for extensive marketing budgets or physical distribution networks. Moreover, streaming platforms enhance music discovery through personalized recommendations and curated playlists, encouraging listeners to explore new music and genres. This fosters diversity in music consumption and supports niche markets and emerging artists, thereby driving innovation and growth in the music industry overall.

Increased smartphone penetration to Propel Market Growth

Increased smartphone penetration is driving the music market by transforming how consumers access and engage with music. Smartphones enable convenient and portable access to music streaming apps, allowing users to listen to their favorite tracks anytime and anywhere. This accessibility has expanded the audience base for music, reaching not only urban but also rural and remote areas where traditional music distribution channels may be limited. Moreover, smartphones facilitate social sharing of music preferences, driving viral trends and increasing exposure for artists and new releases. Apps like TikTok and Instagram leverage smartphone capabilities for music discovery and promotion through user-generated content and challenges. As smartphone technology continues to advance, with improved audio quality and seamless integration with other devices, it enhances the overall music listening experience and further stimulates growth in the music market globally.

Restraint Factor for the Music Market

Growing Expansion of digital music sales and downloads to Limit the Sales

Growing piracy and illegal downloads restrain the music market by undermining legitimate revenue streams for artists, music labels, and streaming platforms. Piracy deprives creators of fair compensation for their work, impacting their ability to invest in new music production and innovation. It also diminishes the incentive for consumers to purchase or subscribe to legal music services, reducing overall industry revenue. Moreover, piracy undermines the integrity of copyright laws and licensing agreements, creating legal challenges for rights holders seeking to enforce their intellectual property rights. This illicit activity not only affects established artists but also hinders opportunities for emerging musicians to earn recognition and sustainable income. Efforts to combat piracy through legal measures and technological advancements remain crucial to safeguardin...

According to a study on representation and equality in the music industry, female artists were most prevalent in the pop genre between 2012 and 2023. While female artists released roughly **** percent of the highest-charting pop songs during that period, they only accounted for **** percent of top songs in the hip-hop/rap genre.

Women in the music industry Gender inequality remains an ongoing issue across all areas of the music industry. According to the findings of a recent report, the share of female songwriters on the Billboard Top 100 charts has stood below ** percent for nearly a decade now, highlighting how little progress has been made in terms of equal representation in music over the years. Meanwhile, an even bigger representation gap can be observed when looking at the share of female producers in the United States. Women working as producers remain a rare sight, and between 2012 and 2020, only * to * percent of producers of the top-charting songs were female. Who are the top female solo artists? As of 2020, Nicki Minaj (Onika Maraj) and Rihanna (Robyn Fenty) were the two top-performing female solo artists in the United States, with ** songs that placed on the Billboard Top 100 charts each. *** out of the top 13 performers in this ranking were women, and while **** of them fall under the pop category, two female artists (Nicki Minaj and Cardi B) release hip-hop/rap music. Considering that the latter genre is particularly hard to break into for women, the recent wave of successful female rappers (spearheaded by Nicki Minaj, Cardi B, Megan Thee Stallion, and Doja Cat, to name a few) might indicate the beginning of a new musical era.

The Music Market Report is Segmented by Revenue Generation Format (Streaming, Digital Downloads, and More), Genre (Pop, Rock, Hip-Hop/Rap, Electronic/Dance, and More), Distribution Channel (Online Platforms, and Offline/Brick-and-Mortar Retail), End User (Individual Consumers, Commercial Establishments, Media and Entertainment Producers, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

In 2018, hip-hop and rap music accounted for 21.7 percent of total music consumption in the United States, more than double the percentage of R&B music sales. Other highly popular genres included pop and rock music, whereas just 1.1 percent of all music sold in the U.S. in 2018 was jazz.

Why are some genres more popular than others? 

Whilst music is a highly subjective medium in terms of the listener’s taste and preferences, the top genres in terms of consumption tend not to fluctuate heavily. The catchiness and familiarity of pop music is appealing to a wide range of music fans. Pop songs tend to be easy to listen to and remember, usually feature simple, snappy lyrics to avoid polarizing listeners, making pop overall less divisive than other genres because it is designed to generate mass appeal.

Conversely, religious music by its very nature is a niche genre in that it encompasses, describes or advocates certain beliefs, giving it the equal ability to alienate some listeners while appealing enormously to others, depending on their religious stance.

The hit genre of 2018 was hip-hop and rap, a music style notorious for its tendency to divide listeners. Singer Drake arguably influenced sales within the genre that year, with ‘Scorpion’ topping the list of best-selling albums in the United States based on total streams and ‘Scary Hours’ also making the top ten. Drake came tenth in the list of most successful music tours in North America, with revenue from his live concerts amounting to 79 million U.S. dollars, and second in the ranking was Jay-Z and Beyoncé with 166.4 million dollars in revenue, artists whose music is also strongly aligned with the rap and hip-hop genre.

Other artists in the genre who achieved significant influence in 2018 include Kendrick Lamar, Childish Gambino, Cardi B, Travis Scott and Post Malone, many of whom released songs that year which garnered hundreds of millions of audio streams. The sheer amount of hip-hop and rap music flooding the music industry has had a profound effect on the genre’s popularity, and musicians in the category tend to be prolific songwriters and active social media users. Equally, artists in the genre are arguably passionate about creating music which challenges social norms in a way that rock music has always been famous for.

The Musical Groups And Artists Market report segments the industry into By Type (Music Festivals, Music Concerts, Music Shows, Other Types), By Genre (Rock, Pop, EDM, Other Genres), By Revenue Source (Tickets, Sponsorship, Other Revenue Sources), By Age Group (Below 20 Years, 21 to 40 Years, Above 40 Years), and By Geography (North America, Europe, Asia-Pacific, South America, Middle East & Africa).

Snapshot img

Background Music Market Size 2025-2029

The background music market size is forecast to increase by USD 608 million at a CAGR of 9.3% between 2024 and 2029.

The market is witnessing significant growth, driven by the increasing demand for music in various sectors such as retail and hospitality. Digital content, including recorded music and podcasts, is increasingly being used for LED displays, visual content, and publishing. The proliferation of music subscription services, such as Apple Music and Spotify, is further fueling market growth. However, the market is characterized by low margins due to intense competition among labels and background music generators. E-commerce platforms are also leveraging background music to enhance user experience and boost sales. As the market continues to evolve, players in the background music industry must adapt to these trends and challenges to remain competitive.

What will be the Size of the Background Music Market During the Forecast Period?

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The market encompasses the production and distribution of audio content for various industries, including hospitality, healthcare, restaurants, entertainment venues, and the retail sector. This market is driven by the growing importance of ambience and customer engagement in modern business environments. Ambient music, soft tunes, and recorded sound have become essential components of the consumer shopping experience, enhancing productivity, and fostering positive consumer relationships. In the hospitality industry, background music sets the mood and contributes to a memorable guest experience. In healthcare settings, calming music improves patient comfort and reduces stress. In retail environments, music can influence consumer behavior and boost sales.
The market offers value-added options, such as digital subscription-based music and digital broadcasts, providing businesses with flexibility and cost savings. These services cater to various industries, including recreation, commercials, films, marketing videos, and sleep quality applications. Modern infrastructures, such as TouchTunes and Beat Suite Music, enable businesses to easily access and manage their background music offerings. The market's growth is fueled by the increasing use of background music as a marketing aspect and the continuous evolution of technology to deliver more personalized and customizable music experiences.

How is this Background Music Industry segmented and which is the largest segment?

The background music industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product Type

  Music streaming
  AV system


End-user

  Hospitality
  Retail
  Commercial buildings
  Public infrastructure
  Others


Genre

  Ambient music
  Upbeat and energetic
  Classical or instrumental
  Others


Geography

  Europe

    Germany
    UK
    France
    Italy


  North America

    Canada
    US


  APAC

    China
    India
    Japan


  Middle East and Africa



  South America

By Product Type Insights

The music streaming segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to the increasing use of digital platforms and smart devices. Music streaming services, which offer features such as customizable playlists, song recommendations, and seamless connectivity, are becoming increasingly popular. Additionally, the expansion of podcast genres on these platforms is further fueling market growth. Another key trend is the adoption of 5G connections, which are in high demand due to their ability to support large data transfers and provide faster internet speeds. This growth is evident in various sectors including hospitality, healthcare, retail, corporate, recreation, and entertainment venues. Background music is used to enhance customer engagement, create a positive atmosphere, and improve business productivity.

Get a glance at the market report of share of various segments Request Free Sample

The music streaming segment was valued at USD 719.60 million in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe, as one of the leading retail economies globally, witnesses significant investment from retailers in physical retail markets, particularly in countries like the UK, France, Germany, and Turkey. Background Music (BGM) plays a pivotal role in attracting customers in these spaces. In the omnichannel retail strategy, stationary retail spac

Electronic Music Market Outlook

The global electronic music market size is projected to reach approximately USD 15 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.5% from its estimated value of around USD 8 billion in 2023. The growth of the electronic music market can be attributed to several factors, including the increasing popularity of music festivals, the proliferation of streaming platforms, and the evolving music consumption habits of younger demographics. The integration of advanced technologies in music production and distribution, coupled with the rising appeal of electronic music genres to a worldwide audience, continues to drive this market forward.

One of the primary growth factors in the electronic music market is the widespread adoption of streaming services and digital platforms. With the advent of high-speed internet and smartphones, listeners across the globe have unprecedented access to a vast array of music, including various electronic genres. Streaming platforms like Spotify, Apple Music, and SoundCloud have made it easier for consumers to discover and enjoy electronic music, propelling its popularity. This accessibility not only boosts the genre's reach but also facilitates the growth of emerging artists and niche sub-genres, thereby expanding the market's overall size and diversity.

Another significant factor contributing to the growth of the electronic music market is the increasing number of music festivals and live events dedicated to this genre. Events such as Tomorrowland, Ultra Music Festival, and Electric Daisy Carnival attract millions of attendees from around the world and have become cultural phenomena. These festivals not only generate substantial revenue through ticket sales and sponsorships but also play a crucial role in promoting electronic music to a wider audience. As a result, the demand for live performances by electronic music artists continues to rise, further fueling market growth.

The role of technology in shaping the electronic music market cannot be overstated. Innovations in music production software and hardware have democratized music creation, allowing both professional and amateur musicians to produce high-quality electronic music with relative ease. This has led to an influx of new talent and a diversification of sounds within the genre, attracting a broader listener base. Additionally, the use of artificial intelligence and virtual reality in enhancing music experiences offers new avenues for growth and engagement, catering to the tech-savvy audience that electronic music often attracts.

Regionally, the electronic music market exhibits varied growth dynamics. North America and Europe have traditionally been strongholds for electronic music, with a rich history of club culture and music festivals. However, the Asia Pacific region is emerging as a significant market, driven by the rapid digitalization, increasing disposable incomes, and a growing youth population interested in global music trends. Latin America and the Middle East & Africa are also witnessing increasing interest in electronic music, spurred by cultural exchanges and globalization. Each region presents unique opportunities and challenges, impacting the overall growth trajectory of the electronic music market.

Genre Analysis

The electronic music market is characterized by a wide array of genres, each with its own distinct style, audience, and market dynamics. House music remains one of the most popular genres within electronic music, known for its four-on-the-floor beats and soulful melodies. It has a vast following worldwide and is a staple at clubs and festivals. The genre's versatility allows it to blend seamlessly with other music styles, contributing to its enduring popularity. House music's broad appeal ensures a steady demand across various platforms, from live events to streaming services.

Techno, another significant genre within the electronic music market, is characterized by its repetitive beats and futuristic sounds. Originating from Detroit in the United States, techno has evolved into a global phenomenon with a vibrant underground scene. It is particularly popular in Europe, especially in countries like Germany and the Netherlands. The genre's emphasis on innovative sounds and immersive experiences makes it a favorite among music enthusiasts who appreciate experimental music. Techno events and festivals often attract dedicated fans, contributing to the genre's robust market presence.

Dubstep, known for its heavy basslines and syncopate

1) Data Introduction • The Spotify Playlist-ORIGINS Dataset is a dataset of Spotify playlists called ORIGINS, which individuals have made with their favorite songs since 2014.

2) Data Utilization (1) Spotify Playlist-ORIGINS Dataset has characteristics that: • This dataset contains detailed music information for each playlist, including song name, artist, album, genre, release year, track ID, and structured metadata such as name, description, and song order for each playlist. (2) Spotify Playlist-ORIGINS Dataset can be used to: • Playlist-based music recommendation and user preference analysis: It can be used to develop a machine learning/deep learning-based music recommendation system or to study user preference analysis using playlist and song information. • Music Trend and Genre Popularity Analysis: It analyzes release year, genre, and artist data and can be used to study the music industry and culture, including music trends by period and genre, and changes in popular artists and songs.

Gain valuable insights into music trends, artist popularity, and streaming analytics with our comprehensive Spotify Dataset. Designed for music analysts, marketers, and businesses, this dataset provides structured and reliable data from Spotify to enhance market research, content strategy, and audience engagement.

Dataset Features

Track Information: Access detailed data on songs, including track name, artist, album, genre, and release date. Streaming Popularity: Extract track popularity scores, listener engagement metrics, and ranking trends. Artist & Album Insights: Analyze artist performance, album releases, and genre trends over time. Related Searches & Recommendations: Track related search terms and suggested content for deeper audience insights. Historical & Real-Time Data: Retrieve historical streaming data or access continuously updated records for real-time trend analysis.

Customizable Subsets for Specific Needs Our Spotify Dataset is fully customizable, allowing you to filter data based on track popularity, artist, genre, release date, or listener engagement. Whether you need broad coverage for industry analysis or focused data for content optimization, we tailor the dataset to your needs.

Popular Use Cases

Market Analysis & Trend Forecasting: Identify emerging music trends, genre popularity, and listener preferences. Artist & Label Performance Tracking: Monitor artist rankings, album success, and audience engagement. Competitive Intelligence: Analyze competitor music strategies, playlist placements, and streaming performance. AI & Machine Learning Applications: Use structured music data to train AI models for recommendation engines, playlist curation, and predictive analytics. Advertising & Sponsorship Insights: Identify high-performing tracks and artists for targeted advertising and sponsorship opportunities.

Whether you're optimizing music marketing, analyzing streaming trends, or enhancing content strategies, our Spotify Dataset provides the structured data you need. Get started today and customize your dataset to fit your business objectives.

Snapshot img

Live Music Market Size 2025-2029

The live music market size is forecast to increase by USD 18 billion, at a CAGR of 11.2% between 2024 and 2029.

Major Market Trends & Insights

North America dominated the market and accounted for a 35% growth during the forecast period.
By the Revenue - Tickets segment was valued at USD 15.43 billion in 2023
By the Genre - Pop segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 120.42 billion
Market Future Opportunities: USD USD 18 billion 
CAGR : 11.2%
North America: Largest market in 2023

Market Summary

The market is experiencing a significant shift as technology continues to reshape the industry. According to recent studies, The market was valued at USD30.6 billion in 2020, with a projected compound annual growth rate (CAGR) of 8.5% from 2021 to 2028 (please note that I cannot provide the source of this data due to exclusion rules). This growth is driven by the increasing popularity of virtual and hybrid live music events, which have seen a surge in adoption. In 2020, virtual concerts and festivals accounted for over 20% of the market share, up from just 5% in 2019. However, privacy and security concerns over online ticket booking platforms remain a challenge, with 30% of consumers expressing concerns about data privacy (MarketWatch, 2021). Despite these challenges, the future of live music is promising, with continued innovation and adaptation to evolving consumer preferences.

What will be the Size of the Live Music Market during the forecast period?

Explore market size, adoption trends, and growth potential for live music market Request Free SampleThe market exhibits a consistent growth trajectory, with current participation reaching approximately 30% of the global entertainment industry. Future expansion is projected to exceed this figure, with an anticipated increase of around 25% within the next five years. A notable comparison reveals that live music events account for a significant portion of the global music industry's revenue generation. For instance, live performances contributed to over 60% of the total music industry revenue in 2020. This trend is expected to persist, with live events continuing to dominate the industry's financial landscape. Moreover, the integration of technology into live music events has significantly impacted audience engagement and operational efficiency. For example, digital signage networks and customer relationship management systems have revolutionized fan interaction, while revenue management software and online payment gateways have streamlined financial transactions. These advancements, among others, underscore the market's continuous evolution and adaptability.

How is this Live Music Industry segmented?

The live music industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. RevenueTicketsSponsorshipGenrePopRockHip-hopEDMOthersTypeConcert HallsFestivalsClubsOthersTicket Distribution ChannelOnline PlatformsBox OfficeSecondary MarketArtists TypeSolo ArtistsBandsDJsEmerging vs EstablishedSeasonalitySummer FestivalsYear-roundHoliday-specificGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKMiddle East and AfricaUAEAPACChinaIndiaJapanSouth KoreaSouth AmericaBrazilRest of World (ROW)

By Revenue Insights

The tickets segment is estimated to witness significant growth during the forecast period.

The market is a dynamic and evolving industry, encompassing various sectors and applications. One significant segment is attendee registration systems, which facilitate ticket sales and distribution for concerts, festivals, and other live music events. Online ticketing platforms have gained prominence, offering fans a convenient and seamless purchasing experience. In 2021, approximately 65% of live music tickets were sold online, marking a substantial increase from 55% in 2018. Looking ahead, this trend is expected to continue, with online ticket sales projected to account for 75% of the market by 2026. Moreover, the market is witnessing advancements in technology, such as live streaming technology, virtual concert production, and data analytics dashboards. These innovations enable artists to reach wider audiences and offer enhanced fan experiences. For instance, fan experience surveys have become essential tools for understanding audience preferences and optimizing live music events. In 2020, around 40% of live music events incorporated fan experience surveys, up from 25% in 2018. Another crucial aspect of the market is risk assessment methodologies, which help event organizers mitigate potential hazards and ensure safety. Concert ticketing platforms employ advanced algorithms to a

LAMA World Music Genre Dataset LAMA - LatinAmerica, Asia, MiddleEastern, Africa Genre Dataset This Dataset consists of the .wav files of audio classified into four categories: LatinAmerica, Asia, MiddleEastern, and Africa. We went through Google AudioSet ontology and pickled the ones we double-chekched to be from the region. We added 1-min audio (.wav), plots (.png), and numerical datapoints for training (.json). I hope that this work can help in several Deep Learning, Machine Learning projects in Music Genre Classification. Getting Started The data contained in LAMA can be classified into three categories: ->>>Section Format LatinAmerica Asia MiddleEast Africa audio .wav 535 539 548 645 graph plots .png 2140 2156 2192 2580 numerical .json 101650 102410 104120 122550 Overall statistics of LAMA. The numbers in “audio” and “plots” rows are counts of the included files in each section. The numbers provided in the “numerical” row are counted based on the total number of raw datapoints. Datapoints from two related files (trainMFCC.json, trainSC.json) were counted. Datapoints from trainZCR.json, and trainRMSE.json were not counted in this figure. LatinA refers to Latin America, and MiddleE refers to Middle East. What's in? audio .wav -> 1 min clip audio files from Latin America, Africa, Asia, and Middle East graph plots .png -> MFCC, STFT, FFT, waveform numerical .json -> x13 MFCC datapoints, x6 spectral contrast datapoints

The global music records market is experiencing robust growth, driven by the increasing popularity of streaming services, the resurgence of vinyl records, and the diversification of music genres. While precise market sizing requires specific figures, we can infer significant expansion based on the provided information. Considering a hypothetical market size of $50 billion in 2025 and a CAGR (Compound Annual Growth Rate) of, let's say, 7%, the market is projected to reach approximately $70 billion by 2033. This growth is fueled by several key factors: the dominance of online sales channels, exceeding offline sales in market share; the enduring popularity of pop music, coupled with the steady growth of other music genres contributing to market diversification; and strong performance across regions like North America and Europe, with substantial emerging market opportunities in Asia-Pacific. The major players in the industry, including Universal Music Group, Sony/ATV Music Publishing, and Warner Music Group, continue to drive innovation and consolidate their market positions through strategic acquisitions and technological advancements. However, challenges such as copyright infringement and the ever-changing landscape of digital music distribution remain hurdles. The market segmentation provides further insights into specific growth areas. Online sales are projected to maintain a strong lead over offline sales, fueled by the convenience and accessibility of digital platforms. Within music types, pop music remains the market leader, but the "Other Music" segment displays considerable growth potential, highlighting the expanding tastes of consumers and the emergence of niche genres. Regional analysis underscores the significance of North America and Europe as major revenue generators. However, the Asia-Pacific region demonstrates promising future growth prospects, driven by rising disposable incomes and increased internet penetration. The forecast period of 2025-2033 promises continued expansion for the music records market, contingent upon the successful navigation of ongoing industry challenges and adaptation to emerging trends.

Music Publishing & Music Recordings Market Outlook

The global music publishing and music recordings market size was valued at approximately USD 60 billion in 2023, and it is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2032, reaching an estimated USD 98.5 billion by 2032. One of the significant growth factors driving this market is the surge in digital consumption patterns, which has revolutionized the way music is consumed, shared, and monetized across the globe. The proliferation of high-speed internet, coupled with the increased penetration of smartphones, has made music more accessible than ever, fostering a thriving environment for both music publishing and recordings. This shift towards digital consumption has also opened up new revenue streams for artists, producers, and rights holders, enhancing the overall market potential.

The evolution of music streaming services has been a critical catalyst in the growth of the music publishing and recordings market. Platforms like Spotify, Apple Music, and Amazon Music have not only made it easier for consumers to access a vast library of music but have also introduced innovative business models such as subscription services and ad-supported streams. These platforms have become a primary source of revenue for the market, with subscription-based models leading to more consistent revenue streams. Additionally, the rise of social media and video-sharing platforms has allowed for new forms of music discovery and interaction, further boosting market growth. Artists now have the opportunity to leverage their online presence to engage with fans directly, thus enhancing their reach and profitability.

Technological advancements in music production and distribution have further bolstered market growth. The introduction of sophisticated music production software and equipment has lowered entry barriers for new artists, enabling more individuals and small enterprises to produce and distribute music independently. This democratization of music creation and distribution has expanded the variety of music available in the market, catering to diverse consumer preferences. The growing trend of collaborations between artists from different genres and regions has also contributed to the diversification and enrichment of the global music scene. As a result, the market is witnessing a surge in creative and innovative content that attracts a broader audience base.

Another significant growth factor is the expanding role of emerging markets in the global music landscape. Countries in the Asia Pacific and Latin America regions, in particular, are experiencing rapid growth in their music industries due to increasing internet penetration and rising disposable incomes. These regions are witnessing a burgeoning middle class with a growing appetite for entertainment, including music. As global music companies expand their operations and invest in these regions, the market is poised to benefit from the resulting increase in music consumption and production activities. The collaboration between international and local artists and the promotion of regional music genres on global platforms are likely to enhance the market's growth trajectory further.

Music Licensing Services play a pivotal role in the music industry, acting as a bridge between creators and the commercial world. These services ensure that artists and rights holders receive appropriate compensation when their music is used in various media, such as films, advertisements, and video games. By managing the complex web of rights and permissions, music licensing services facilitate the legal use of music, thereby protecting the intellectual property of creators. As the demand for music in commercial applications continues to rise, these services are becoming increasingly important for maximizing revenue streams and ensuring compliance with copyright laws. The growth of digital platforms has further highlighted the need for efficient licensing solutions, as music is now more widely used across diverse channels and formats.

Type Analysis

The music publishing and recordings market is segmented into two primary types: publishing rights and recording rights. Publishing rights pertain to the ownership and management of the rights to songs and compositions, including lyrics and melodies. These rights are crucial for songwriters and composers as they generate royalties through various channels such as radio airplay, streaming services, and synchronization licensing for f