Press release
Key Trends Influencing the Growth of the Music Recording Market in 2025: Changing Consumer Preferences And Revenue Trends Hinder Industry Growth
Music Recording
What Will the Music Recording Industry Market Size Be by 2025?
The dimension of the music recording industry has experienced significant expansion in the past few years. The market, which is projected to increase from $60.73 billion in 2024 to $65.45 billion in 2025, anticipates a compound annual growth rate (CAGR) of 7.8%. The previous growth can be accredited to aspects like distribution platforms, business models within the music industry, the promotion and marketing of artists, copyright and intellectual property regulations, as well as cultural and genre trends.
What's the Long-Term Growth Forecast for the Music Recording Market Size Through 2029?
The market for music recording is anticipated to observe substantial expansion in the following years, as it is predicted to develop to $84.73 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The increase during the prediction period can be credited to the dominance of streaming, the rise of niche markets, immersive experiences in virtual and augmented reality, blockchain and decentralized distribution channels, and direct engagement with fans. Significant trends during this forecasting period include cross-industry collaborations, AI involved in music production, technological advancement, focus on high-definition audio and the trend of virtual concerts.
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What Are the Key Growth Drivers Fueling the Music Recording Market Expansion?
The notable increase in music accessibility through mobile platforms in recent years is likely to continue influencing the music recordings market in the projected timeline. The spike is predominantly fuelled by the increasing internet reach and the burgeoning use of smartphones and tablets, particularly in developing nations. The International Federation of the Phonographic Industry (IFPI), a non-profit recording industry based in the UK, reported in 2023 that the comprehensive streaming market experienced substantial growth. Both subscription and advertisement-supported services saw an elevation from 65.5% to 67.0% during 2022. Consequently, the escalating demand for music content via mobile platforms is projected to positively impact the market in the forecasted span.
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What Are the Key Trends Driving Music Recording Market Growth?
It is anticipated that changes in consumer behavior and revenue dynamics may stifle the growth of the music recording industry. Many legal firms are grappling with pressured profit margins due to heightened operational expenses, such as salaries and advancements in technology. For example, data from Camoin Associates, a non-government organization based in the US, shows that in the first six months of 2023, vinyl records constituted 72% of all physical music income in the US, clocking in at $632.4 million. This considerably outperformed CDs, which generated $236 million.
How Is the Music Recording Market Segmented?
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 Companies Are Leading the Charge in Music Recording Market Innovation?
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
Which Regions Are Leading the Global Music Recording Market in Revenue?
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.
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