Music Recording Market Report 2025

The music recording market size has grown strongly in recent years. It will grow from $60.73 billion in 2024 to $65.45 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to distribution platforms, music industry business models, artist promotion and marketing, copyright and intellectual property laws, cultural and genre trends.

The music recording market size is expected to see strong growth in the next few years. It will grow to $84.73 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to streaming dominance, emergence of niche markets, virtual and augmented reality experiences, blockchain and decentralized distribution, direct-to-fan engagement. Major trends in the forecast period include collaborations with other industries, ai and music creation, technology evolution, focus on high-resolution audio, emergence of virtual concert.

Access to music on mobile platforms has grown significantly in recent years, and this trend is likely to continue during the forecast period, thereby driving the music recordings market. This growth is primarily fueled by increased internet penetration and the proliferation of smartphones and tablets, particularly in emerging countries. For example, in 2023, the International Federation of the Phonographic Industry (IFPI), a UK-based non-profit organization representing the recording industry, reported that the overall streaming market, encompassing both subscription and ad-supported services, rose to 67% in 2022, up from 65.5% the previous year. Consequently, the rising demand for music content through mobile platforms is expected to positively impact the market during the forecast period.

The continuous growth in the music industry is expected to drive the expansion of the music recording market in the coming years. Encompassing a spectrum from major record labels and radio stations to independent labels and smaller venues, the music industry comprises all entities involved in producing, recording, creating, and promoting music. Music recording plays a pivotal role in various facets of the music sector, including music creation, production, distribution, marketing, and even in musical instruction and performance. For instance, in March 2023, the Australian Recording Industry Association (ARIA) reported that wholesale income from recorded music reached $609.6 million in 2022, marking a 7.4% increase compared to $567.8 million in 2021. This underscores the role of rising music industry growth in propelling the music recording market.

Several music recording companies are now providing auto-tune applications, enabling singers to enhance their vocals and achieve a flawlessly pitched sound. Auto-Tune, an audio processing software, is utilized to measure and modify pitch in vocal and instrumental music recordings and performances. Its primary function is to correct minor inaccuracies when singers deviate from the intended pitch while preserving the emotional essence of the performance. Renowned music recording studios such as Abbey Road Studios in London and Capitol Studios in Los Angeles offer auto-tune software, enabling vocal tuning, incorporation of special effects, and achieving a pitch-perfect sound for singers.

Major companies are actively engaging in strategic collaborations to better cater to the needs of their clientele. An exemplar of this trend is the collaboration between Universal Music Group N.V. and Curio, a partnership designed to enhance fan engagement and leverage cutting-edge technology. Universal Music Group (UMG) and Curio have formed a strategic partnership, allowing UMG to utilize Curio's technology, relationships, and fan interaction networks to develop and launch NFT (non-fungible token) projects featuring its global roster of artists and labels. In February 2022, Universal Music Group, a Netherlands-based music corporation, announced this collaboration with Curio to create NFT fan packages for its brands and artists. UMG, as the first major music company to adopt Curio's technology as an exclusive platform for licensing artwork, audio recordings, and audio-visual material globally, aims to leverage Curio's innovative technology and fan engagement networks to introduce future NFT projects. This collaboration offers enhanced flexibility and scalability for issuing authentic fan-centric memorabilia tailored for each project. Curio, based in the United States, is a non-fungible token (NFT) platform.

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.

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. The countries covered in the music recording market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The music recording market includes revenues earned from the production and distribution of musical recordings, from publishing music, or from providing sound recording. Music recording is the electrical, mechanical, electronic, or digital inscription and playback of sound waves such as voice, song, instrumental music, and sound effects. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

A music recording is a physical representation of a musical performance that can be replayed or reproduced. It is used to produce audio tracks for distribution in formats such as CDs, streaming, or digital downloads, allowing artists to share their music with audiences.

Primary types in the music recording industry encompass record production, music publishers, record distribution, and sound recording studios. Music publishers specialize in music distribution across various genres such as rock, hip hop, pop, jazz, among others. These recordings serve diverse applications such as mechanical, performance, synchronization, digital, among others. End-users of these recordings include both individuals and commercial entities.

The music recording market research report is one of a series of new reports that provides music recording market statistics, including music recording industry global market size, regional shares, competitors with a music recording market share, detailed music recording market segments, market trends and opportunities, and any further data you may need to thrive in the music recording industry. This music recording market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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