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

The majority of respondents stated that *** 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, ** percent stated that they did not wish to pay for things they could also get for free.

This statistic shows the share of respondents who legally and illegally download or stream music in the Netherlands in 2012, by frequency. The survey data shows that roughly 12 percent of the Dutch respondents had illegally downloaded or streamed music less than one year ago.

This statistic shows the share of respondents who legally and illegally download or stream music, films, games and books in the Netherlands in 2012, by channel. The survey data shows that roughly ten percent of the Dutch respondents had legally downloaded or streamed films or shows in the past year.

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.

Snapshot img

Recorded Music Market Size 2024-2028

The recorded music market size is valued to increase by USD 38.87 billion, at a CAGR of 20.6% from 2023 to 2028. Increasing preference for on-demand music services will drive the recorded music market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 34% growth during the forecast period.
By Type - Digital segment was valued at USD 10.9 billion in 2022
By segment2 - segment2_1 segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 277.44 million
Market Future Opportunities: USD 38868.30 million
CAGR from 2023 to 2028 : 20.6%

Market Summary

The market is experiencing a significant shift towards on-demand streaming services, driven by consumers' desire for convenience and access to a vast music library. According to recent studies, streaming now accounts for over half of the recorded music industry's revenue, with traditional sales of CDs and downloads declining. This trend is expected to continue, as more consumers opt for the flexibility and affordability of streaming services. However, the market faces challenges, including the issue of illegal downloads and piracy. These activities not only undermine artists' rights but also impact the industry's revenue. To mitigate these challenges, record labels and streaming platforms are investing in technology and partnerships to improve compliance and operational efficiency.
For instance, some companies are implementing advanced algorithms to detect and prevent piracy, while others are collaborating with rights holders to ensure proper compensation. A real-world example of this is a major record label that optimized its supply chain by integrating its digital and physical distribution channels. By using real-time data analytics, the label was able to forecast demand more accurately, reducing inventory holding costs and improving overall efficiency. This, in turn, led to a 15% increase in revenue and a 20% reduction in error rates. By staying abreast of market trends and investing in technology, the recorded music industry continues to adapt and thrive in the digital age.

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

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How is the Recorded Music Market Segmented ?

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

Type

  Digital
  Physical
  Others


Geography

  North America

    US


  Europe

    France
    Germany
    UK


  APAC

    Japan


  Rest of World (ROW)

By Type Insights

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

The market continues to evolve, with streaming services dominating its digital segment. This segment, which includes ad-supported and premium subscription models, experienced significant growth since 2014. As of 2022, over 520 million paid subscribers worldwide utilize music streaming platforms, marking a substantial increase from the 443 million in 2021. The US represents a substantial market for these services. Beyond streaming, various aspects of music production and distribution persistently innovate. These include studio monitoring systems, MIDI controller keyboards, music synchronization licensing, music distribution services, audio plug-in development, and audio mixing techniques. Interactive music formats, virtual instruments plugins, and music licensing agreements also contribute to the market's evolution.

Virtual studio technology, bit depth resolution, mastering software plugins, and metadata tagging standards further shape the landscape. Despite the digital shift, traditional aspects such as acoustic treatment design, sound design techniques, royalty collection systems, and digital rights management remain crucial. Lossless audio compression, high-resolution audio codecs, and dynamic range compression continue to refine the listening experience.

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The Digital segment was valued at USD 10.9 billion in 2018 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 34% 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.

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The European the market is experiencing significant growth, driven by the increasing number of music enthusiasts and the rising demand for recorded music in key countries such as the UK, Germany, and France.This growth c

Snapshot img

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 digital transformation of the music industry is actively reshaping the global music market, driven by the increasing adoption of digital music platforms. These platforms are altering how consumers access content, shifting listening behaviors toward personalized, on-demand experiences. This evolving landscape is encouraging new business models and expanding opportunities across licensing, distribution, and artist engagement. Strategic alliances and new entrants continue to intensify competition, further accelerating innovation in platform features, pricing strategies, and content curation methods. As players seek competitive advantage, the market is witnessing continual realignment through mergers and acquisitions, reflecting an ongoing effort to consolidate market share and scale offerings.
Despite this momentum, the market faces a persistent challenge illegal downloads and piracy. This issue significantly undermines the revenue potential of legitimate streaming services and complicates efforts to enforce copyright protections. Comparatively, while digital music platform adoption continues to grow steadily, the prevalence of piracy continues to offset gains in monetization. This contrast highlights the need for comprehensive industry collaboration to ensure both secure access and sustainable growth.

Major Market Trends & Insights

North America dominated the market and accounted for a 40% share in 2023
The market is expected to grow significantly in North America region as well over the forecast period.
Based on the End-user, the individual segment led the market and was valued at USD 93.42 billion of the global revenue in 2023
Based on the Source the Recording accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 237.19 Bilion
Future Opportunities: USD 184.69 Billion 
CAGR (2024-2029): 18.1%
APAC : Largest market in 2023

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

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The global music market is experiencing continuous evolution driven by innovation across digital rights management (DRM), music recommendation systems, and personalized playlists. As user experience (UX) design and audience engagement metrics reshape how music is consumed and monetized, platforms are integrating immersive audio and interactive music experiences to better align with audience behavior. AI music generation and music discovery tools are also becoming integral, enhancing the efficiency of music recommendation algorithms and enabling dynamic user interaction across streaming services and music licensing platforms. Growth in music technology has introduced loop libraries, sample packs, and advanced plugin development, driving demand for high-performance audio plugins and flexible music software.
Meanwhile, music hardware is evolving to support 3D audio capabilities, further elevating listening experiences. Challenges such as music piracy and music copyright infringement are prompting stronger music licensing agreements and improved music search frameworks. Educational shifts are evident through online music education, while artists increasingly explore global music collaborations and use music visualization tools to engage audiences across digital and live formats.
A major shift is underway as mobile music production, home recording studios, and virtual instruments redefine the creative process, empowering independent creators and expanding access to professional-grade tools. The rise of live streaming concerts, interactive music scores, and virtual concerts reflects growing demand for virtual-first music consumption. Additionally, lossless audio, spatial audio, and high-resolution audio formats are gaining traction, driven by a user base that increasingly values sound fidelity alongside convenience.
Current adoption of digital music distribution systems has expanded by 28.4%, demonstrating a clear preference for platform-based access and convenience over traditional formats. In contrast, growth expectations for digital music licensing are set at 46.7%, indicating a faster acceleration in rights-based monetization relative to distribution infrastructure. This contrast highlights the industry's shift toward more sophisticated rights management and monetization models, reinforcing the need for comprehensive music metadata, streaming analytics, and music data analytics to support licensing, royalties, and copyright enforcement.

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-user

  Individual
  C

This statistic shows the number of unauthorized digital music tracks removed under operations and investigations instigated by the BPI in the United Kingdom (UK) from quarter one 2015 to quarter two 2016. In quarter one 2016, nearly *** million unauthorized music tracks were taken offline.

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.

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

 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.

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.

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 *** billion euros. Music followed close behind with figures reaching a value of *** 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.