In 2024, the total revenue of the recorded music industry amounted to **** billion U.S. dollars. Global streaming revenues reached **** billion U.S. dollars in the same year. Overall, recorded music increased by nearly **** percent, representing a steady growth rate compared to the previous year. Music streaming – the motor of the industry Data on the revenue generated by the different segments of the music industry worldwide show that music streaming is responsible for by far the biggest share in the industry in recent years. The streaming revenue has been growing year by year since the late 2000s and early 2010s and overtook the revenue from physical sales as of 2017. With two thirds of the global music revenue in 2024 coming from streaming, it was undoubtedly the backbone of the industry. Smaller regional markets are catching up While the global music market rose by around five percent in 2024, this growth rate varied significantly when broken down regionally. Whereas growth in the biggest regional music markets, North America, Asia and Europe, remained in single digits, the music markets in Sub-Saharan Africa, Latin America, and the MENA region grew at a fairly high rate respectively.

Data on recorded music industry revenue in the United States from 2009 to 2024 shows steady growth from 2015 onwards. The revenue reached over ** billion U.S. dollars in 2024, up from the ***billion reported in the previous year. Music is the revenue driver of the audio market With music being part of everyday life as well as a popular form of entertainment, it has been the most popular audio format and is likely to remain the revenue driver of the industry. Global recorded music revenue alone generated a total of **** billion U.S. dollars in 2024. In the United States, recorded music industry revenue amounted to **** billion U.S. dollars in 2024, which is more than twice as much compared to 2009. Streaming is dominating music consumption Over the years, streaming has become increasingly popular, overtaking other forms of music consumption. Especially physical sales of music have experienced a sharp drop in numbers, only slightly recovering in recent years. Nonetheless, while streaming is by far the most popular way of consumption, the boom it has experienced over the last 10 years or so seems to be slowing down. In 2022, global music streaming revenue only grew by **** percent, which is a significant drop from the growth rate of **** percent in the year before. In 2024, the recorded growth dropped to *******************.

In 2018, preliminary estimates suggested that the total revenue of the global music industry amounted to ***** billion U.S. dollars, up from just under ** billion a year earlier. The figure is expected to consistently increase each year and surpass ** billion U.S. dollars in 2023.

Global Sheet Music market size was $389.4 Million in 2022. Sheet Music Industry's Compound Annual Growth Rate will be 0.02% from 2023 to 2030. What is Driving Sheet Music Market Growth?

Increasing popularity of live music entertainment

The increasing popularity of live music entertainment is a key driving factor contributing to the demand for the sheet music market. The increasing number of genres and musicians is ultimately creating a significant impact on the sheet music market. For example, the global music industry is worth over USD 50 billion, in 2020, with two major income streams. Where live music, makes up over 50% of total revenues and is resultant mainly from sales of tickets to live music performances. Live music performances lead to increased interest in the music being performed, and this can lead to increased demand for sheet music. A popular band or artist performs a new song live for the audience, so they want to learn how to play that song themselves. This can result in increased sales of sheet music for that song. Live music performances can serve as a platform for promoting sheet music. Musicians can sell sheet music at their live shows or promote it through merchandise sales. Additionally, performances can generate excitement for new sheet music releases which lead to increased sales. The popularity of live music entertainment can also result in increased interest in music education, as more people become involved in learning to play musical instruments. They are increasingly required to sheet music to practice and improve their skills. All these aforementioned factors are positively influencing the growth of the sheet music market.

Surge in digital music platforms (Access Detailed Analysis in the Full Report Version)

Digital platforms have transformed the way sheet music is accessed, shared, and learned. Websites and mobile applications such as Musicnotes, Musescore, and Sheet Music Plus provide vast libraries of downloadable content, tutorials, and interactive learning resources. This transition to online platforms has broadened the market on a global scale, reaching enthusiasts in distant areas. It also facilitates immediate access to the sheet music of trending songs, enhancing responsiveness to new releases and live performances, thus maintaining a steady demand among tech-savvy musicians and students.

Rising Interest in Music Education

The sheet music market greatly benefits from the increasing global interest in structured music education. Educational institutions, online courses, and private lessons necessitate printed or digital sheet music as a crucial learning resource. With a growing number of parents enrolling their children in music classes and adults engaging in musical hobbies during their leisure time or retirement, sheet music becomes vital for practice and advancement. Additionally, government support for arts education and community music initiatives further strengthens the significance of sheet music in educational settings.

Key Restraints of live music entertainment

Copyright and Licensing Challenges

The sheet music industry frequently encounters obstacles related to copyright regulations, which restrict the accessibility and affordability of authorized transcriptions. The unauthorized distribution through piracy or unlicensed platforms diminishes revenue for both publishers and creators. Additionally, stringent licensing laws can hinder musicians from publicly performing or teaching with specific sheet music. This limitation discourages some educators, learners, and performers from acquiring official versions, thereby decreasing the potential market size and complicating international sales and distribution.

Decline in Traditional Print Media

Although digital access is on the rise, the demand for traditional printed sheet music is diminishing. A significant number of older consumers and institutions continue to depend on print; however, increasing production costs and distribution challenges are rendering printed sheet music less feasible. Environmental concerns, along with the transition to digital devices such as tablets for musicians, further diminish the demand for physical copies. This trend compels publishers to either adapt to digital formats or face the risk of obsolescence, leading to transitional difficulties in logistics and profitability.

Limited Reach in Emerging M...

In 2023, the sales revenue of the music industry in South Korea totaled around **** trillion South Korean won. This represents an increase of about **** percent since the previous year. The music industry accounted for *** percent of the total sales revenue of the domestic content industry that year. The explosion of album sales in South Korea With a massive increase in album sales in the last decade, selling music albums has become one of the main income sources for the music industry. In 2023, sales drastically rose to reach over *** million, accelerated by the K-pop fandom tendency to buy physical albums in order to achieve benefits such as artist photo cards. As a result of this incentive, most physical album sales are seized by K-pop groups instead of individual artists. In the previous decade, the top-selling music albums were all dominated by K-pop groups, with BTS having won ***** times in a row. Streaming services as a market driver Besides the explosion of album sales, online music distribution is one of the key driving forces of the successful music industry in the country. Most South Koreans prefer to access music via streaming, with domestic streaming music services still playing a major role in the industry. Internationally, YouTube is considered a necessary platform for Korean music artists for expanding their fandom as roughly ** percent of respondents in a global survey chose the platform as the most preferred online music service for K-pop content. It has also become increasingly popular domestically.

Over the period from 2014 to 2024, recorded music sales in Finland fluctuated between 36 and 62 million euros. The sales figures peaked at approximately 62.43 million euros in 2024. In 2014, the music sales dropped below 36 million euros, but increased again in the following years.

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...

Data on recorded music industry revenue in the United States from 2009 to 2023 shows steady growth from 2015 onwards. The revenue reached 11 billion U.S. dollars in 2023, up from the 10.3 billion reported in the previous year. Music is the revenue driver of the audio market With music being part of everyday life as well as a popular form of entertainment, it has been the most popular audio format and is likely to remain the revenue driver of the industry. Global recorded music revenue alone generated a total of 28.6 billion U.S. dollars in 2023. In the United States, recorded music industry revenue amounted to 11 billion U.S. dollars in 2023, which is more than twice as much compared to 2009. Streaming is dominating music consumption Over the years, streaming has become increasingly popular, overtaking other forms of music consumption. Especially physical sales of music have experienced a sharp drop in numbers, only slightly recovering in recent years. Nonetheless, while streaming is by far the most popular way of consumption, the boom it has experienced over the last 10 years or so seems to be slowing down. In 2022, global music streaming revenue only grew by 11.5 percent, which is a significant drop from the growth rate of 24.3 percent in the year before.

The sales based on format of musical recordings for the record production and integrated record production and distribution industries, sound recording and music publishing (NAICS 512210 and 512220), for two years of data.

According to a 2020 study exploring the global music industry, worldwide live music sponsorship revenues will amount to **** billion U.S. dollars in 2024. The projected figure for 2020 was *** billion U.S. dollars, with ticket sales for that year estimated at around ***** billion. The effects of the coronavirus pandemic on the live music industry have been extremely detrimental to revenue generation, affecting artists, venues, and events companies alike. Whilst it is anticipated that live will begin to recover in 2021, naturally this depends on the amount of venues able to reopen, the size of those venues, and the number of events allowed to take place.

The recorded music market, while facing challenges from digital disruption, continues to demonstrate resilience and growth potential. The market's value, estimated at $20 billion in 2025, is projected to experience a Compound Annual Growth Rate (CAGR) of 5% through 2033, driven primarily by the increasing popularity of streaming services and the resurgence of vinyl records amongst younger demographics. This growth is further fueled by expanding digital distribution channels and the integration of music into various applications, including gaming, film, and television. While physical formats like CDs and tapes still hold a niche market, their contribution to overall revenue is declining, with the optical sound record sector showing a relatively stable presence. The recreational activities application segment currently holds the largest market share, largely attributed to live concerts and festival experiences, which often tie into merchandise sales and streaming engagement. However, the personal and commercial segments are also exhibiting steady growth, reflecting increasing individual consumption and the broader utilization of music in advertisements and media. Geographic distribution reveals significant regional differences, with North America and Europe maintaining the largest market share, while the Asia-Pacific region is anticipated to witness considerable growth driven by increasing disposable incomes and expanding digital penetration. Key restraints include copyright infringement, pricing pressures from streaming platforms, and the ongoing challenge of monetizing music in a digitally-saturated environment. Competition within the industry remains intense, with major players like Warner Music, Universal Music, and Sony Music Entertainment vying for market dominance, while independent labels and artists are gaining traction through direct-to-consumer strategies and increased online visibility. The market is evolving towards a more diverse ecosystem, with greater emphasis on personalized experiences, niche genres, and the emergence of innovative technologies, such as immersive sound and artificial intelligence-driven music creation. Successful navigation of the current market landscape requires a focus on adaptable business models, creative content, strong digital strategies, and effective artist management.

According to the International Federation of the Phonographic Industry report, in 2019, the global recorded music market grew by 8.2%, its fifth consecutive year of growth. The growth was predominantly driven by fans’ increasing engagement with music on paid streaming services, with the number of paid streaming accounts rising to 341 million by the end of 2019 and associated revenue increasing by 24.1%.

The statistic provides information on the music industry revenue in the United States from 2012 to 2015, as well as a forecast for 2016 to 2021. According to the source, the revenue will grow from 15.87 billion U.S. dollars in 2014 to 22.61 billion in 2021. In the first half of 2016, 47 percent of the revenue in the music industry came from streaming and a further 31 percent was derived from permanent downloads. Subscription and streaming digital music revenue in the United States was worth over 3.83 billion U.S. dollars in 2016.

US Recorded Music Revenues by Format

US Recorded Music Revenues by Format in 2019 (Inflation Adjusted)

By Throwback Thursday [source]

About this dataset

This dataset contains comprehensive information about the US recorded music industry in 2019 Week 10. It includes details on the various formats of recorded music, such as CDs, vinyl records, digital downloads, and more. The dataset also provides data on the respective years in which these records were made, allowing for accurate historical comparison and analysis.

Key metrics provided include the number of units sold for each format, as well as corresponding revenue generated from their sales. In addition to the raw revenue figures, this dataset offers an extra column that presents inflation-adjusted revenue values. These adjusted figures take into account changes in purchasing power over time and enable a fair comparison of different years' revenues.

Overall, this dataset offers valuable insights into the US recorded music industry's performance in terms of format popularity and economic gains throughout a specific week in 2019. Researchers, analysts, and music professionals can utilize this comprehensive dataset to explore trends within specific formats while considering both absolute revenue and inflation-adjusted figures

How to use the dataset

Introduction:

• Understanding the Columns: a) Format: This column categorizes the format of the recorded music, such as CD, vinyl, digital download, etc. b) Year: This column represents the year in which the data was recorded. c) Units: The number of units sold for a particular format of recorded music. d) Revenue: The revenue generated from sales for a specific format. e) Revenue (Inflation Adjusted): The column that shows revenue adjusted for inflation.

• Analyzing Formats: By exploring and analyzing the Format column in this dataset, you can gain insights into changing consumer preferences over time. You can identify which formats have gained popularity or declined over different years or periods.

• Understanding Revenue Generation: To understand revenue patterns in relation to various formats and years, analyze both Revenue and Revenue (Inflation Adjusted) columns separately. Comparing these two columns will help you assess changes due to inflation accurately.

• Exploring Units Sold: The column Units provides insight into how many units were sold for each format within a specific year or period. Analyzing this data helps understand consumer demand across various formats.

• Calculating Inflation-Adjusted Revenue: Utilize the Revenue (Inflation Adjusted) column when analyzing long-term trends or comparisons across different periods without worrying about how inflation affects purchasing power over time.

• Comparing Multiple Years or Periods: This dataset includes information specifically for 2019 Week 10. However, you can use this dataset in conjunction with other datasets covering different years to compare revenue, units sold, and format performance across multiple years.

• Creating Visualizations: Visualizations such as line charts or bar graphs can help represent patterns and trends more comprehensively. Consider creating visualizations based on formats over multiple years or comparing revenue generated by different formats.

• Deriving Insights: Make use of the information provided to identify trends, understand customer preferences, and make informed decisions related to marketing strategies or product offerings in the music industry.

Conclusion:

Research Ideas

• Analyzing the impact of different music formats on revenue: This dataset provides information on the revenue and units sold for different recorded music formats such as CDs, vinyl, and digital downloads. By analyzing this data, one can identify which format generates the highest revenue and understand how consumer preferences have shifted over time.
• Tracking changes in purchasing power over time: The dataset includes both revenue and inflation-adjusted revenue figures, allowing for a comparison of how purchasing power has changed over the years. This can be useful in understanding trends in consumer spending habits or evaluating the success of marketing campaigns.
• Assessing market performance by year: With data on both units sold and revenue by year, this dataset can be used to assess the overall performance of the US recorded music industry over time. By comparing different years, one can identify periods of growth or decline and gain insights into factors driving these changes, such as technological advancements or shifts in consumer behavior

Acknowledgements

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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

The Music Market report segments the industry into Revenue Generation Format (Streaming, Digital (Except Streaming), Physical Products, Performance Rights, Synchronization Revenues) and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). Get five years of historical data alongside five-year market forecasts.

The revenue of the Swedish music market increased during the past ten years, reaching approximately 2.18 billion Swedish kronor in 2023. Over the last years digital music has been growing due to a wide range of new platforms. As of 2023, the digital music revenue in Sweden grew significantly from roughly 141 million Swedish kronor in 2009 to over two billion Swedish kronor in 2023. Streaming accounted for more than 90 percent of the total music sales revenue in 2023.

The revenue of the Finnish music industry increased steadily in the recent years. In 2023, the music industry revenue increased again and reached roughly 1.28 billion euros. The majority of the revenue, 557.6 million euros in 2023, was generated by the live music sector.

According to Cognitive Market Research, the global Digital Music Content 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 3580.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2685.36 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2058.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 447.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% 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 179.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
The Permanent Downloads held the highest Digital Music Content market revenue share in 2024.

Market Dynamics of Digital Music Content Market

Key Drivers for Digital Music Content Market

Streaming Boom to Increase the Demand Globally

The music industry has witnessed a seismic shift with the ascent of streaming offerings like Spotify, Apple Music, and Amazon Music. Subscription-based total models offer customers with boundless right of entry to to considerable tune libraries, catering to numerous tastes and options. This comfort, coupled with on-call for streaming competencies, has propelled market growth exponentially. Consumers now revel in extraordinary flexibility in discovering and having access to music anytime, everywhere, riding a surge in subscriptions and revenue. This streaming boom has no longer simplest revolutionized how track is fed on but has additionally converted the industry's financial landscape, shaping new tendencies and opportunities for artists, labels, and listeners alike.

Mobile Device Penetration to Propel Market Growth

The ubiquity of smartphones and capsules has revolutionized get admission to to virtual song content, fostering unparalleled comfort and expanding the customer base. With mobile devices seamlessly included in everyday lifestyles, individuals can effortlessly enjoy track on the move, whether commuting, exercising, or relaxing. This pervasive accessibility transcends geographical and temporal barriers, catering to various lives and possibilities. Moreover, the intuitive interfaces and sturdy connectivity of cellular gadgets decorate user stories, facilitating seamless exploration and discovery of tracks throughout platforms. Consequently, the massive penetration of cellular gadgets has basically altered the track intake panorama, democratizing admission to and empowering users to curate personalized listening studies wherever they are .

Restraint Factor for the Digital Music Content Market

Piracy to Limit the Sales

Despite concerted efforts to combat piracy, unlawful music downloading and streaming persist as good sized demanding situations within the enterprise. This ongoing phenomenon now not simplest undermines the sales streams of artists and rights holders but additionally disrupts the integrity of highbrow assets rights. Despite diverse measures, which include legal actions, anti-piracy campaigns, and technological improvements in digital rights management, piracy remains a persistent hurdle. Factors just as the proliferation of torrent sites, streaming platforms hosting unauthorized content material, and the anonymity afforded by using positive online areas contribute to its resilience. Addressing piracy calls for a multifaceted technique, encompassing each legal and technological strategy, along with initiatives to educate customers approximately the significance of helping artists and respecting copyright laws.

Impact of Covid-19 on the Digital Music Content Market

The COVID-19 pandemic has exerted a profound impact on the digital track content marketplace, reshaping consumption patterns and sales streams. With lockdowns and social distancing measures, there is a surge in online music streaming as humans seek amusement and solace at domestic. However, stay events cancellations h...

The statistic provides information on the live music industry revenue in the United States from 2012 to 2015, as well as a forecast for 2016 to 2021. According to the source, the revenue will grow from **** billion U.S. dollars in 2015 to ***** billion in 2021. Of the revenue generated in 2016, over *** billion U.S. dollars was generated in sponsorship and a further *** billion U.S. dollars came in ticket sales. The industry is expected to grow further in the coming years as the compound annual growth rate for live music ticket sales is estimated at **** percent between 2015 and 2020.