The statistic shows the most common reasons for downloading music from illegal sources worldwide in 2017. During the survey, 16 percent of respondents stated that they downloaded music from illegal sources because of the quality of the sound.

The statistic presents the reasons for using illegal file sharing services to stream or download music or radio in the United States in 2017. During the survey, 66 percent of respondents stated that they used illegal file sharing services to stream or download music or radio because its cheaper/for free.

The majority of respondents stated that one of their reasons for illegally downloading movies and music from the internet was the easy and quick manner of finding the desired content. Of Hungarian young adults, 75 percent stated that they did not wish to pay for things they could also get for free.

According to a survey conducted between August 2012 and March 2022, the share of internet users in the United Kingdom (UK) who had consumed digital music illegally had dropped from 20 percent in 2019 to 15 percent in 2021 before increasing to a share of 25 percent in 2022. The second lowest figure at 18 percent of all respondents was reported in 2017 and 2020.

 A survey from 2015 reported that 17 percent of the French surveyed declared that they illegally downloaded movies on the internet at least once a year. As of 2017, almost a third of the respondents from another survey stated to regularly download music, movies or TV shows illegally.  

An illegal consumption of cultural goods mainly among young people

That same source reveals that the illicit consumption of cultural goods online (music, movies, TV shows) was more common among French people aged between 15 and 34 years old, whilst less than 10 percent of respondents aged 65 or older did so. However, among regular illicit consumer of cultural goods on the Internet, gender was not a determinant factor: 22 percent of both men and women declared that they regularly enjoyed cultural goods online illegally.

Most common methods of illegal cultural consumption online

How do Internet users access cultural goods unlawfully? Using access codes, subscriptions of other people was one habit used among French people: 17 percent declared doing so at least once a month in 2017, and 16 percent said they utilized the internet network belonging to someone else. Finally, the most popular illicit consumption feature in France was watching streaming online, before direct download or peer-to-peer download.

The statistic presents the share of consumers who use illegal file sharing services to stream or download music or radio in the United States in 2017, sorted by age group. During the survey, 21 percent of respondents aged 15 to 25 stated that they used illegal file sharing services to stream or download music or radio an a yearly basis.

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Music Market Size 2025-2029

The music market size is forecast to increase by USD 184.69 billion, at a CAGR of 18.1% between 2024 and 2029.

The market is experiencing significant shifts, driven primarily by the increasing adoption of digital music platforms. This trend is transforming the way consumers access and engage with music, offering new opportunities for market players. However, the market landscape is not without challenges. Mergers and acquisitions, as well as strategic alliances among companies and new entrants, are intensifying competition. These developments are reshaping the competitive dynamics of the market. Concurrently, the persistent issue of illegal downloads and piracy continues to pose a significant challenge. This obstacle undermines the revenue potential of legitimate music streaming services, necessitating effective countermeasures from industry stakeholders. Companies seeking to capitalize on market opportunities and navigate challenges effectively must stay abreast of these trends and respond accordingly. Adapting to consumer preferences for digital music and collaborating with strategic partners can help businesses remain competitive and thrive in this evolving market.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, with dynamic interplays between various sectors shaping its landscape. String instruments, for instance, experience ongoing advancements in technology and design, while music promotion relies heavily on digital platforms for fan engagement. Live music events, a cornerstone of the industry, adapt to changing consumer preferences, integrating elements of podcast hosting and streaming services. Audio interfaces and studio equipment are essential tools for music production, with continuous innovation driving improvements in sound quality and functionality. Folk music, once considered a niche genre, now enjoys a resurgence in popularity, inspiring new collaborations and cross-genre experiments. Music theory, long a foundational aspect of music education, intertwines with digital music distribution and music therapy, expanding its applications. Electronic music, a genre born from technological innovation, continues to evolve, influencing music promotion and streaming platforms. Brass instruments, woodwind instruments, and other acoustic instruments maintain their relevance, often showcased in classical music performances and music festivals. Intellectual property rights and music licensing remain crucial, as music publishers and record labels navigate the complexities of digital distribution and streaming services. Talent scouting and artist management adapt to the ever-changing music industry, with A&R professionals utilizing digital tools and social media for discovering new artists. Music history, a vital component of music education, intersects with the marketing and music merchandising, offering unique opportunities for fan engagement and monetization. Sound design, midi controllers, and effects processors contribute to the art of music production, with electronic music and hip hop genres leading the way in innovation. Music therapy, a burgeoning field, integrates music into various therapeutic applications, highlighting its transformative power. In the realm of music promotion, the marketing strategies evolve, with tour management and artist management adapting to the digital age. Music genres continue to blend and evolve, reflecting the diverse and dynamic nature of the market.

How is this Music Industry segmented?

The music industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userIndividualCommercialSourceRecordingLiveLicensingDistribution ChannelPhysicalDigitalLive EventsGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyThe NetherlandsUKMiddle East and AfricaUAEAPACChinaJapanSouth KoreaSouth AmericaBrazilRest of World (ROW)

By End-user Insights

The individual segment is estimated to witness significant growth during the forecast period.The market is experiencing significant growth, driven by advancements in technology and consumer preferences. Music streaming platforms have become increasingly popular, with mobile data traffic surging due to the proliferation of 4G and 5G networks. This trend is particularly notable in the individual user segment, which is expected to dominate the market. Music licensing, a key component of the market, is benefiting from the rise of streaming services and podcast hosting. Digital music distribution and music education are also thriving, with music notation software, mu

This statistic shows the volume of content illegally accessed in Spain from 2014 to 2019, by type. Music is the the type of content that was mostly illegally obtained during the period of time under consideration, with figures reaching over 1.5 billion songs which were not obtained by legal means in 2017 and has experienced and upward trend since. For example, over 2.3 billion songs were not obtain legally in 2019.

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Recorded Music Market Size 2024-2028

The recorded music market size is forecast to increase by USD 38.87 billion at a CAGR of 20.6% between 2023 and 2028. The market is undergoing significant transformations, driven by the Mobile Music Revolution and the rise of Music Streaming services. The preference for on-demand music access is on the rise, leading to a decline in traditional album sales. Auto-Tune applications have become increasingly popular, allowing for vocal manipulation and perfecting the vocalized voice. The NFT (Non-Fungible Token) Revolution is also impacting the industry, offering new revenue streams through the sale of unique digital assets, such as sound waves and instrumental melodies. To address these issues, innovative technologies such as virtual reality, augmented reality, and blockchain are being explored for direct-to-fan engagement and secure transactions. However, challenges persist, including the issue of illegal downloads and piracy. Mechanical and digital engraving continue to be essential components of the music industry, providing the physical and digital infrastructure for music distribution.

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

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The market encompasses various aspects, including music production, publishing, and distribution. This sector is a significant contributor to the global entertainment industry, providing a platform for artists to showcase their creativity and reach audiences worldwide. Music production involves the process of recording, editing, and producing sound waves using various instruments, vocalized voices, and sound effects. This phase is crucial in shaping the final product, ensuring high-quality sound and artistic expression. Publishing in the market refers to the legal ownership and distribution of musical compositions and lyrics.

Moreover, record distribution is the process of making recorded music available to consumers through various channels. Traditional methods include CDs and optical sound records, while digital distribution platforms such as streaming services and download stores have gained significant popularity in recent years. Genres in the market span a wide range, including rock, hip-hop, pop, jazz, and many others. Each genre caters to unique audiences and preferences, contributing to the diversity and richness of the music industry. soundtracks, a significant segment of the recorded music market, are used in various forms of media, including films, television shows, and video games. These compositions enhance the overall viewing experience and contribute to the success of various productions.

Furthermore, carbon neutrality is an emerging trend in the recorded music industry, with artists and labels increasingly focusing on reducing their carbon footprint. This includes the use of renewable energy sources during recording sessions and the adoption of sustainable practices in manufacturing and distribution processes. In conclusion, the market is a dynamic and evolving industry that encompasses various aspects, from music production and publishing to distribution and carbon neutrality. Its ability to adapt to changing consumer preferences and technological advancements ensures its continued relevance and growth in the entertainment landscape.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Digital
  Physical
  Others


Geography

  Europe

    Germany
    UK
    France


  North America

    US


  APAC

    Japan


  South America



  Middle East and Africa

By Type Insights

The digital segment is estimated to witness significant growth during the forecast period. The digital segment is poised for significant expansion during the forecast period due to the continuous increase in the number of paid subscribers. As of 2022, the global music streaming market boasted over 520 million paid subscribers, marking a substantial rise from the 443 million recorded in 2021. The digital music segment has been experiencing consistent growth since 2014. The United States stands out as a major market for subscription services.

Furthermore, the intellectual properties of independent artists and record labels are monetized through streaming royalties, contributing to the revenue of the global music community. This trend is expected to persist, with the US market continuing to play a pivotal role in the growth of the subscription audio streaming sector.

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The digital segment accounted for USD 10.89 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 34% to the

In 2023, revenue from digital album downloads amounted to 204.7 million U.S. dollars, less than half the figure recorded in 2018. Meanwhile, subscription and streaming revenues have been increasing annually and reached 14.36 billion in 2023, making up the vast majority of revenues for the entire music industry. Digital music – additional informationThe increase in digital music revenue, more specifically subscription and streaming services, may be down to the accessibility and availability of digital music. For legal downloads, consumers can pick between services such as Spotify, Apple Music, and Pandora. Of course, there are countless numbers of illegal sites which distribute digital music also. In 2019, approximately 34 percent of global internet users aged 16 to 24 admitted to accessing music through music ripping, the most popular method being copyright infringement.Digital music sales have made a huge impact on the listings of best-selling lists with digital sales either being combined with physical sales or set apart. The list of the top-selling digital songs in the United States in 2020 features artists such as The Weeknd, Tones and I, and Megan Thee Stallion. The title for the top selling digital song goes to ‘Blinding Lights’ by The Weeknd. The song sold over 372 thousand units in the United States from January to July 2020. Nevertheless, the share of the digital music market does not always directly correspond to the value of the digital market. The value of digital music singles downloads in 2018 amounted to 490.4 million U.S. dollars, which marked a drop in value from 678.5 million in 2017. The value of digital album sales also saw a decrease from 668.5 million in 2017 to 499.7 million in 2018.

The statistic presents data on the preferred platform for pirated music worldwide in 2016 and 2017. According to the source, mobile devices (including phones and tablets) accounted for 87 percent of visits to illegal music streaming sites in 2017, an increase from 52 percent in 2016.

According to Cognitive Market Research, the global music recording market size will be USD 55514.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 8.10% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 22205.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 16654.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 12768.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.1% from 2024 to 2031.
Latin America's market will have more than 5% of the global revenue with a market size of USD 2775.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 1110.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031.

Key Drivers for Music Recording Market

Increasing Individual Awareness to Increase the Demand Globally:

It is critical to recognize that the music industry is not a single industry but rather a collection of distinct enterprises with varying foundations and assemblies, all of which are intricately linked. The creation and use of intelligent properties based on music form the foundation of the whole music industry. Further, the speedy remodeling of the music business is an example of how an advancement can upend an entire sector and render the talents of the present-day obsolete.

Hence, the capacity to choose between physical distribution channels was the primary factor in the power and influence of the music industry before the Internet. Therefore, physical music delivery is becoming increasingly irrelevant due to the internet; thus, in order for the major music companies to survive, they have had to reinvent themselves.

Technological Progress to Propel Market Growth:

The music industry has expanded globally in a way that has never been seen before. There has never been a more connected global music community, and both musicians and listeners are seizing the opportunity presented by the current era to enjoy and spread the music they love. Since recording companies typically provide funding to musicians, record labels have historically been the main sources of funding for the music industry.

According to IFPI, record labels invest more than USD 5.8 billion in artists each year through combined Artists & Repertoire (A&R) and global marketing. The spike in investments is expected to continue in the next years, propelling the music recording market forward. The market offers greater development opportunities, and in addition to singers capitalizing on the digital generation opportunity, music fundamentals are working to position themselves to support long-term progress and sustainability.

Market Restraints of the Music Recording Market

Music Piracy to Limit the Sales:

Music piracy, or the unauthorized sharing and dissemination of copyrighted music, has plagued the business for decades. In the pre-streaming era, peer-to-peer file-sharing networks like Napster enabled widespread music swapping, resulting in enormous financial losses for artists and record labels. While streaming has reduced piracy, it has not eradicated it. Illegal streaming websites and torrent downloads continue to exist, providing free access to music at the expense of creators and copyright holders.

Piracy has far-reaching consequences for the music industry. On the one hand, it clearly deprives artists and labels of cash that would otherwise have come from legitimate sales. This can limit investment in new talent, music production, and promotion, reducing the quality and diversity of music accessible. Furthermore, piracy distorts market data, making it harder to determine actual fan involvement and preventing artists from receiving fair compensation based on their popularity.

Nonetheless, there is some positive interaction between music piracy and the market. According to some, listening to pirated music might act as a kind of "discovery" for listeners, exposing them to new musicians that they might not have otherwise come across. In the end, this expo...

Between July 2018 and January 2019, Italian authorities blocked several websites that enabled users to download or stream music illegally. A research published in July 2019 analyzed the year-on-year percentage change in number of total combined visits recorded by five of the blocked websites. The study reveal that the number of visits to all considered websites decreased remarkably. Especially, visits to the website Freedsound.com, blocked in July 2018, dropped by 98 percent in March 2019, compared to the previous year. Similarly, visits to Conver2mp3.net, a stream ripping website, went down by 78 percent. Stream ripping refers to the act of converting files of streaming platforms to illegally download them.

This statistic presents the distribution of illegal music, movies and TV series consumption on the Internet by age group in France in 2019. It shows that 34 percent of respondents aged between 15 and 24 years old had a regular illegal consumption of cultural goods online, whereas 29 percent of surveyed aged 40 years and older consumed illegal movies, music or TV shows on a regular basis.

During a 2019 survey fielded in Mexico, 70 percent of respondents stated they believed Mexicans downloaded or listened to music from illegal websites; nearly 23 percent stated they thought Mexicans paid for online music services such as Spotify.

In March 2019, the number of visits to music piracy websites in Italy decreased significantly. BitTorrent websites experienced the highest decrease, as visits dropped by almost 53 percent compared to March 2018. Similarly, visits to stream ripping websites, and cyberlockers went down by 41 percent and 19 percent, respectively. BitTorrent, also known as BT, is a form of peer-to-peer (P2P) file sharing, enabling users to send and receive files over the internet. Whereas cyberlockers relate to cloud storage services, stream ripping refers to the act of converting files of streaming platforms to illegally download them.

The statistic presents a forecast of the global digital music industry revenue in 2015 and 2020. The source projected the revenue will increase from 11.7 billion U.S. dollars in 2015 to 15.7 billion U.S. dollars in 2020. The digital music industry - additional information
The rise of the internet in the past two decades has dramatically changed the music industry on many levels, including how music is produced and distributed, how artists are discovered and promoted, as well as what exactly generates profit. One of the more positive aspects of music in the internet era is perhaps the existence of platforms such as YouTube or Sound Cloud, where unknown artist can be discovered and ultimately achieve commercial success, such as pop idol - Justin Bieber. He was only 12, when a producer found his profile by accident and brought him to international fame in only a few years. The major drawback of the digital world is the high rate of illegal music downloads, which have marred the industry on a global level, as well as the low costs of legal downloads, as compared to physical recording. As of 2014, the industry has witnessed a significant drop in sales of CDs, CSs, LPs and digital albums, from 500 million units in 2007 to 257 million units in 2014 in the United States alone. Many consider that the increase in popularity of legal digital downloads cannot make up for the loss, as digital music prices do not include manufacturing and transport costs, which further hurts musicians and labels. As of 2014, the U.S. music market has witnessed a growth of the digital share of music revenues from 2.9 percent to 71 percent. With some 37 million music tracks available as of June 2015, Apple’s iTunes Store is presently the largest music retailer in the world. At the time of its launch in 2003, it revolutionized the industry with its payable downloads, but the market is moving more and more to another type of digital consumption: streaming. Platforms such as Spotify, Pandora or Deezer offer limited free access to music, which is supported by ads, and subscription-based access to an almost unlimited number of popular tracks. As of June 2015, Spotify had 75 million monthly active users around the world, up from only 15 million two years prior. According to a recent forecast, digital music streaming is the fastest growing sector of the music industry, while physical recorded music is expected to experience a negative growth rate between 2013 and 2018.

This statistic shows the value of content illegally accessed in Spain from 2017 to 2019, by type. Movies ranked first on the list in 2017, with a value of illegally obtained content that amounted to 5.7 billion euros. Music followed close behind with figures reaching a value of 5.1 billion euros in 2017. In both cases the trend throughout the analyzed years was downwards, with the value figures of illegally obtained content decreasing sharply. However, the value of books obtained by non legal means has been steadily increasing during the period of time under consideration, a trend that goes on par with the volume of illegally downloaded books.

Annual music album sales in the United States dropped by roughly ***** percent between 2019 and 2021, amounting to just *** million in the most recent year. This number decreased further to just *** million in the U.S. in 2022. In 2013, sales amounted to ***** million units, a number which had already noticeably decreased from the *** million units sold in 2011. Annual music album sales - additional information The past decade has brought along many changes, both technological and societal, which have forever changed the face of the global music industry. Today, music superstars, such as Beyonce, who was the highest paid musician in the United States in 2016, have money, coverage in all possible mediums, and power like never before. However, as of 2015, the worldwide revenue generated by the music business stood at **** billion U.S. dollars, some **** billion less than in 2002. It seems that the internet, the magical tool that is responsible for the creation of so many music celebrities, might also be responsible for the dismal statistics surrounding the sale of music albums in the United States, once the main revenue stream in the business. As the data shows, annual music album sales in the United States have plummeted from *** million units sold in 2007 to under *** million units sold in 2017. At the same time, digital music revenues, especially from album and single downloads, as well as subscription and streaming services, have been steadily growing in the past years. The fall in record sales is attributed to the rise of illegal music downloading, but also to legal services, which provide music products without the additional costs of production and shipping. Despite changes in the way Americans acquire music, U.S. consumers still enjoy and value music industry products. Recent studies show that more consumers are choosing to use a legal alternative to file sharing, mainly digital music streaming services, such as online radio services like Pandora and Spotify. Additionally, musicians reorient themselves from album sales towards live performances and business deals to boost their incomes. As of 2017, the sales revenue from concert tickets in North America was at an all-time high, with revenue hit ***** billion U.S. dollars for the first time.

In the first quarter of 2019, the number of visits to music piracy websites in Italy dropped by roughly ten percent compared to the previous year. Both desktop and mobile visits recorded almost the same decrease. Overall, the number of visits to websites enabling to download or stream music illegally went down by 35 percent in March 2019, compared to March 2018.