UK Music Market Report 2025-2033: Recorded, Streaming & Publishing Growth Insights

The UK music market was valued at USD 7.26 Billion in 2024 and is projected to reach USD 15.17 Billion by 2033, growing at a CAGR of 8.54% during 2025-2033. Growth is primarily driven by increased adoption of digital streaming platforms, rising consumer demand for diverse music genres, investments in live music events, continuous advancements in music technologies like AI and VR, and a strong local music industry fostering emerging talents and international collaborations.

Study Assumption Years

Base Year: 2024
Historical Years: 2019-2024
Forecast Period: 2025-2033

UK Music Market Key Takeaways

The UK music market size reached USD 7.26 Billion in 2024.
The market is forecasted to grow at a CAGR of 8.54% during 2025-2033.
The forecast period for the market is from 2025 to 2033.
Digital streaming platforms like Spotify, Apple Music, and Amazon Music dominate the market, offering vast song libraries and personalized recommendations.
The live music and festival segment has experienced considerable growth post-pandemic, boosted by consumer interest in experiential events and technological integration such as VR.
Advancements in music technology, including AI tools for production and blockchain for copyright management, are fostering innovation and growth.
The subscription-based and ad-supported models in streaming deliver multiple revenue streams for artists and platforms alike.

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Market Growth Factors

The rise of digital streaming services has significantly reshaped the UK music market landscape. Platforms such as Spotify, Apple Music, and Amazon Music provide extensive song libraries and curated playlists, meeting diverse consumer musical tastes and facilitating artist discovery. Leveraging data analytics, these services enhance user experiences through personalized recommendations, driving engagement. The adoption of subscription-based and ad-supported revenue models has diversified income streams for both artists and platforms, reducing dependence on physical sales and downloads, thus expanding the market.

Post-pandemic, the UK's live music and festival sector has witnessed a surge in consumer demand. Events range from intimate shows to large festivals representing a vibrant music culture. This growth is supported by consumers spending more on experiences over goods. Technological enhancements in live events - including advanced sound systems, interactive features, and virtual reality experiences - enrich audience engagement and bolster market expansion.

Innovations in music technologies offer critical growth drivers. Artificial intelligence aids artists in music creation, sound optimization, and trend prediction based on listener data. Virtual reality enriches concert experiences and music consumption. Additionally, blockchain technology helps simplify copyright administration and ensures fair compensation for artists. The proliferation of high-resolution audio formats and smart home audio devices further elevates the listening experience, catering to audiophiles and casual listeners alike.

Market Segmentation

Type:

Recorded Music: Covers physical and digital recorded music sales, significant within the market.
Streaming: Includes revenue from digital music streaming platforms leveraging subscription and ad models.
Music Publishing: Encompasses rights management and licensing income primarily from song copyrights.
Others: Represents additional market components, details as categorized by the report.

Region:

London
South East
North West
East of England
South West
Scotland
West Midlands
Yorkshire and The Humber
East Midlands
Others

The report provides comprehensive regional analysis covering these key territories, reflecting local market trends and dynamics.

Regional Insights

London emerges as a dominant region within the UK music market, supported by its status as a cultural and economic hub, fostering music industry growth. Other notable regions include the South East, North West, and Scotland. Although specific regional market shares or CAGR values are not detailed, the report highlights comprehensive coverage and analysis of these major markets, reflecting diverse musical tastes and economic contributions across the UK.

Recent Developments & News

In September 2024, Global expanded its UK music presence by launching 12 new radio stations, building on successful brand extensions such as Heart Dance and Capital Dance. UK radio listening is growing, driven by digital audio broadcasting (DAB) and smart speaker usage. Weekly, 50 million people tune in, with smart speaker listening increasing by 18% year-on-year, accounting for 17% of total radio listening.

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This release was published on openPR.