Press release
Music Recording Market: Driving Forces, Growth Prospects and Market Trends for 2024-2029
Music Recording Market Size
What Is The Projected Market Size Of The Global Music Recording Market And Its Growth Rate?
• The music recording market size has seen substantial growth, growing from $60.73 billion in 2024 to $65.45 billion in 2025 at a CAGR of 7.8%.
• This growth owes heavily to distribution platforms and changes in music industry business models, intellectual property laws, and cultural trends.
• Moreover, the music recording market size is expected to see significant growth in the coming years, projected to reach $84.73 billion in 2029 at a CAGR of 6.7%.
• This can be largely attributed to streaming dominance, an emergent niche market, and the application of virtual and augmented reality experiences, blockchain and decentralized distribution, and direct-to-fan engagement.
What Is Driving The Growth In The Music Recording Market?
The widespread access to music on mobile platforms, driven by rising internet penetration and the proliferation of smartphones and tablets, has been a major driver for the music recording market, especially in emerging countries. According to the International Federation of the Phonographic Industry (IFPI), a UK-based non-profit recording industry organization, by 2023, the overall streaming market, which comprises both subscription and ad-supported services, grew to 67.0% from 65.5% the previous year. Thus, the rise in demand for music content on mobile platforms is expected to positively influence the market in the forecast period.
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Who Are the Key Players Driving Music Recording Market Growth?
The key players driving growth in the music recording market are:
• Sony Corp.
• Capitol Studios
• Bertelsmann SE & Co KGaA
• Universal Music Group
• Warner Music
• Quad Studios
• EastWest Studios
• BMG Rights Management GmbH
• GMM Grammy Public Company Limited
• Abbey Road Studios
• Metropolis Studios
• Henson Recording Studios
• Avex Inc.
• PolyGram N.V.
• Emperor Entertainment Group
• Electric Lady Studios
• Blackbird Studio
• Sunset Sound Recorders
• Ocean Way Recording
• United Recording Studios
• Record Plant
• Associated Independent Recording
• Real World Studios
• Sonic Ranch
• Studios 301
• The Village Studios
• Epic Records
• Virgin Records
• Avatar Studios (Power Station)
• RAK Studios
What Are The Key Trends In The Music Recording Market?
Key trends in the music recording market include:
• Collaborations with other industries
• AI and music creation
• Ongoing technology evolution
• Focus on high-resolution audio
• Emergence of virtual concerts
What Are The Segments Of The Global Music Recording Market?
The global music recording market is segmented by:
• Type: Record Production, Music Publishers, Record Distribution, Sound Recording Studios
• Application: Mechanical, Performance, Synchronization, Digital, Other Applications
• End-User: Individual, Commercial
• Genre: Rock, Hip hop, Pop, Jazz, Other Genres
Which Region Leads The Music Recording Market?
Asia-Pacific was the largest region in the music recording market in 2024, with Western Europe expected to be the fastest growing region in the forecast period. The report also covers music recording market trends in Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Music Recording Market Global Market Report?
- Market Size Analysis: Analyze the Music Recording Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Music Recording Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Music Recording Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Music Recording Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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