Press release
Music Recording Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Music Recording Market
The prevalence of music consumption on mobile mediums has seen a considerable uptick in recent times, with predictions indicating a persistent climb over the projected time span, ergo propelling the music recordings market forward. This propulsion is predominantly fuelled by an upswing in internet usage and an expansion of the smartphone and tablet market, particularly in developing nations. For example, data from the International Federation of the Phonographic Industry (IFPI), a UK-based non-profit recording industry, disclosed that in 2022, the collective streaming market - encompassing both subscription and ad-supported services - amplified to 67.0%, experiencing an increase from 65.5% in the preceding year. Therefore, the upcoming period is anticipated to witness a surge in demand for music content on mobile platforms, which in turn, is predicted to exert an affirmative impact on the market.
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What Is the projected market size and growth rate for the music recording market?
The expansion of the music recording industry has been significant in the past few years. It is projected to expand from a market size of $60.73 billion in 2024 to about $65.45 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 7.8%. The historical growth is due to factors such as distribution platforms, business models within the music industry, artist promotion, marketing initiatives, the existence of copyright and intellectual property laws, and shifting cultural and genre trends.
Anticipated robust expansion is on the horizon for the music recording market, which is predicted to reach $84.73 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.7%. This growth during the forecast period will be driven by factors such as the domination of streaming, the rise of niche markets, the incorporation of virtual and augmented reality experiences, the use of blockchain technology and decentralized distribution, and direct engagement with fans. Significant trends for the forecast period encompass partnerships with other industries, the intertwining of artificial intelligence and music creation, technological advancements, an emphasis on high-resolution audio, and the advent of virtual concerts.
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What new trends are reshaping the music recording market and its opportunities?
The anticipated changes in consumer habits and income distribution are likely to impede growth in the music recording industry. Many legal companies are experiencing pressure on their profit margins due to rising operational expenses like employee salaries and technology investments. For instance, Camoin Associates, a non-governmental organization based in the US, reported in February 2024 that vinyl records accounted for 72% of all non-digital music earnings in the US in the first half of 2023. This significantly overshadowed CDs, which generated $632.4 million compared to CDs' $236 million.
What major market segments define the scope and growth of the music recording market?
The music recording market covered in this report is segmented -
1) By Type: Record Production, Music Publishers, Record Distribution, Sound Recording Studios
2) By Application: Mechanical, Performance, Synchronization, Digital, Other Applications
3) By End-User: Individual, Commercial
4) By Genre: Rock, Hip hop, Pop, Jazz, Other Genres
Subsegments:
1) By Record Production: Studio Recording, Live Recording, Mixing and Mastering Services
2) By Music Publishers: Songwriting and Composition, Licensing and Rights Management, Music Catalog Administration
3) By Record Distribution: Physical Distribution (CDs, Vinyl), Digital Distribution (Streaming Services, Downloads), Retail and Online Sales
4) By Sound Recording Studios: Professional Recording Studios, Project Studios, Mobile Recording Units
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Which region dominates the music recording market?
Asia-Pacific was the largest region in the music recording market in 2024. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the music recording market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the music recording industry growth?
Major companies operating in the music recording market include 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
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What Is Covered In The Music Recording Global Market Report?
•Market Size Forecast: Examine the music recording market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the music recording market for a structured understanding.
•Key Players Overview: Analyze major players in the music recording market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the music recording market.
•Segment Contributions: Evaluate how different segments drive overall growth in the music recording market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the music recording market.
•Industry Challenges: Identify potential risks and obstacles affecting the music recording market.
•Competitive Landscape: Review strategic developments in the music recording market, including expansions, agreements, and new product launches.
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