Global Music Market 2024-2028

The music market is forecasted to grow by USD 70,023.6 mn during 2023-2028, accelerating at a CAGR of 12.57% during the forecast period. The report on the music market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	12.1%
CAGR	12.57%
Incremental Value	$70023.6mn

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing adoption of digital music, increasing preference for music streaming services, and increased popularity of live events.

Technavio's music market is segmented as below:

By End-user

Individual
Commercial

By Source

Recording
Live
Others

By Geographical Landscape

North America
Europe
APAC
South America
Middle East and Africa

This study identifies the increase in mergers and acquisitions (M&A) and strategic alliances among vendors and entry of new players as one of the prime reasons driving the music market growth during the next few years. Also, growing wearables with music streaming and rising internet and smartphone penetration will lead to sizable demand in the market.

The report on the music market covers the following areas:

Music market sizing
Music market forecast
Music market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading music market vendors that include Alphabet Inc., Amazon.com Inc., Apple Inc., Aspiro AB, Bertelsmann SE and Co. KGaA, Curb Records Inc., Deezer SA, Kobalt Music Group Ltd., NORTHERN MUSIC Co. Ltd., Pioneer Music Co., Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Tencent Music Entertainment Group, THEME MUSIC Co. Pvt. Ltd., Universal Music Group NV, Vivendi SE, Warner Music Group Corp, Yamaha Corp., and Zee Entertainment Enterprises Ltd.. Also, the music market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR74312

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary - Chart on Market Segmentation by Source
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global music market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global music market 2018 - 2022 ($ million)
4.2 End-user Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - End-user Segment 2018 - 2022 ($ million)
4.3 Source Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Source Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by End-user

6.1 Market segments
Exhibit 30: Chart on End-user - Market share 2023-2028 (%)
Exhibit 31: Data Table on End-user - Market share 2023-2028 (%)
6.2 Comparison by End-user
Exhibit 32: Chart on Comparison by End-user
Exhibit 33: Data Table on Comparison by End-user
6.3 Individual - Market size and forecast 2023-2028
Exhibit 34: Chart on Individual - Market size and forecast 2023-2028 ($ million)
Exhibit 35: Data Table on Individual - Market size and forecast 2023-2028 ($ million)
Exhibit 36: Chart on Individual - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Individual - Year-over-year growth 2023-2028 (%)
6.4 Commercial - Market size and forecast 2023-2028
Exhibit 38: Chart on Commercial - Market size and forecast 2023-2028 ($ million)
Exhibit 39: Data Table on Commercial - Market size and forecast 2023-2028 ($ million)
Exhibit 40: Chart on Commercial - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Commercial - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by End-user
Exhibit 42: Market opportunity by End-user ($ million)
Exhibit 43: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Source

7.1 Market segments
Exhibit 44: Chart on Source - Market share 2023-2028 (%)
Exhibit 45: Data Table on Source - Market share 2023-2028 (%)
7.2 Comparison by Source
Exhibit 46: Chart on Comparison by Source
Exhibit 47: Data Table on Comparison by Source
7.3 Recording - Market size and forecast 2023-2028
Exhibit 48: Chart on Recording - Market size and forecast 2023-2028 ($ million)
Exhibit 49: Data Table on Recording - Market size and forecast 2023-2028 ($ million)
Exhibit 50: Chart on Recording - Year-over-year growth 2023-2028 (%)
Exhibit 51: Data Table on Recording - Year-over-year growth 2023-2028 (%)
7.4 Live - Market size and forecast 2023-2028
Exhibit 52: Chart on Live - Market size and forecast 2023-2028 ($ million)
Exhibit 53: Data Table on Live - Market size and forecast 2023-2028 ($ million)
Exhibit 54: Chart on Live - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Live - Year-over-year growth 2023-2028 (%)
7.5 Others - Market size and forecast 2023-2028
Exhibit 56: Chart on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 57: Data Table on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 58: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Others - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by Source
Exhibit 60: Market opportunity by Source ($ million)
Exhibit 61: Data Table on Market opportunity by Source ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 63: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 64: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 67: Chart on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 68: Data Table on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 69: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 APAC - Market size and forecast 2023-2028
Exhibit 75: Chart on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 76: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 77: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 79: Chart on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 80: Data Table on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 81: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 87: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibit 88: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibit 89: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 China - Market size and forecast 2023-2028
Exhibit 91: Chart on China - Market size and forecast 2023-2028 ($ million)
Exhibit 92: Data Table on China - Market size and forecast 2023-2028 ($ million)
Exhibit 93: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on China - Year-over-year growth 2023-2028 (%)
9.10 UK - Market size and forecast 2023-2028
Exhibit 95: Chart on UK - Market size and forecast 2023-2028 ($ million)
Exhibit 96: Data Table on UK - Market size and forecast 2023-2028 ($ million)
Exhibit 97: Chart on UK - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on UK - Year-over-year growth 2023-2028 (%)
9.11 Germany - Market size and forecast 2023-2028
Exhibit 99: Chart on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 100: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 101: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.12 France - Market size and forecast 2023-2028
Exhibit 103: Chart on France - Market size and forecast 2023-2028 ($ million)
Exhibit 104: Data Table on France - Market size and forecast 2023-2028 ($ million)
Exhibit 105: Chart on France - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on France - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 107: Market opportunity By Geographical Landscape ($ million)
Exhibit 108: Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 109: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 111: Overview on factors of disruption
11.4 Industry risks
Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 113: Vendors covered
12.2 Market positioning of vendors
Exhibit 114: Matrix on vendor position and classification
12.3 Alphabet Inc.
Exhibit 115: Alphabet Inc. - Overview
Exhibit 116: Alphabet Inc. - Business segments
Exhibit 117: Alphabet Inc. - Key news
Exhibit 118: Alphabet Inc. - Key offerings
Exhibit 119: Alphabet Inc. - Segment focus
12.4 Amazon.com Inc.
Exhibit 120: Amazon.com Inc. - Overview
Exhibit 121: Amazon.com Inc. - Business segments
Exhibit 122: Amazon.com Inc. - Key news
Exhibit 123: Amazon.com Inc. - Key offerings
Exhibit 124: Amazon.com Inc. - Segment focus
12.5 Apple Inc.
Exhibit 125: Apple Inc. - Overview
Exhibit 126: Apple Inc. - Business segments
Exhibit 127: Apple Inc. - Key news
Exhibit 128: Apple Inc. - Key offerings
Exhibit 129: Apple Inc. - Segment focus
12.6 Aspiro AB
Exhibit 130: Aspiro AB - Overview
Exhibit 131: Aspiro AB - Product / Service
Exhibit 132: Aspiro AB - Key offerings
12.7 Bertelsmann SE and Co. KGaA
Exhibit 133: Bertelsmann SE and Co. KGaA - Overview
Exhibit 134: Bertelsmann SE and Co. KGaA - Business segments
Exhibit 135: Bertelsmann SE and Co. KGaA - Key news
Exhibit 136: Bertelsmann SE and Co. KGaA - Key offerings
Exhibit 137: Bertelsmann SE and Co. KGaA - Segment focus
12.8 Deezer SA
Exhibit 138: Deezer SA - Overview
Exhibit 139: Deezer SA - Product / Service
Exhibit 140: Deezer SA - Key news
Exhibit 141: Deezer SA - Key offerings
12.9 Kobalt Music Group Ltd.
Exhibit 142: Kobalt Music Group Ltd. - Overview
Exhibit 143: Kobalt Music Group Ltd. - Product / Service
Exhibit 144: Kobalt Music Group Ltd. - Key offerings
12.10 Sirius XM Holdings Inc.
Exhibit 145: Sirius XM Holdings Inc. - Overview
Exhibit 146: Sirius XM Holdings Inc. - Business segments
Exhibit 147: Sirius XM Holdings Inc. - Key offerings
Exhibit 148: Sirius XM Holdings Inc. - Segment focus
12.11 Sony Group Corp.
Exhibit 149: Sony Group Corp. - Overview
Exhibit 150: Sony Group Corp. - Business segments
Exhibit 151: Sony Group Corp. - Key news
Exhibit 152: Sony Group Corp. - Key offerings
Exhibit 153: Sony Group Corp. - Segment focus
12.12 Spotify Technology SA
Exhibit 154: Spotify Technology SA - Overview
Exhibit 155: Spotify Technology SA - Business segments
Exhibit 156: Spotify Technology SA - Key offerings
Exhibit 157: Spotify Technology SA - Segment focus
12.13 Tencent Music Entertainment Group
Exhibit 158: Tencent Music Entertainment Group - Overview
Exhibit 159: Tencent Music Entertainment Group - Product / Service
Exhibit 160: Tencent Music Entertainment Group - Key offerings
12.14 Vivendi SE
Exhibit 161: Vivendi SE - Overview
Exhibit 162: Vivendi SE - Business segments
Exhibit 163: Vivendi SE - Key offerings
Exhibit 164: Vivendi SE - Segment focus
12.15 Warner Music Group Corp
Exhibit 165: Warner Music Group Corp - Overview
Exhibit 166: Warner Music Group Corp - Business segments
Exhibit 167: Warner Music Group Corp - Key offerings
Exhibit 168: Warner Music Group Corp - Segment focus
12.16 Yamaha Corp.
Exhibit 169: Yamaha Corp. - Overview
Exhibit 170: Yamaha Corp. - Business segments
Exhibit 171: Yamaha Corp. - Key offerings
Exhibit 172: Yamaha Corp. - Segment focus
12.17 Zee Entertainment Enterprises Ltd.
Exhibit 173: Zee Entertainment Enterprises Ltd. - Overview
Exhibit 174: Zee Entertainment Enterprises Ltd. - Product / Service
Exhibit 175: Zee Entertainment Enterprises Ltd. - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 176: Inclusions checklist
Exhibit 177: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 178: Currency conversion rates for US$
13.4 Research methodology
Exhibit 179: Research methodology
Exhibit 180: Validation techniques employed for market sizing
Exhibit 181: Information sources
13.5 List of abbreviations
Exhibit 182: List of abbreviations