The global market for Recorded Music was valued at US$31.2 Billion in 2024 and is projected to reach US$60.3 Billion by 2030, growing at a CAGR of 11.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The digital revolution has had a profound impact on the recorded music industry, dramatically reshaping how music is produced, distributed, and consumed. Innovations such as music streaming services like Spotify, Apple Music, and Amazon Music have become dominant, offering on-demand access to millions of songs, facilitated by internet connectivity. This shift has democratized music consumption, enabling a wider range of artists to reach global audiences without the need for traditional record deals or marketing machines. Furthermore, the rise of social media platforms has allowed artists to engage directly with fans, promote new releases, and gauge audience interest instantly and effectively. The analytics provided by digital platforms also offer unprecedented insights into listening habits, helping the industry to target audiences more precisely and tailor releases to meet changing tastes and trends.
The growth in the recorded music market is driven by several factors, including technological advancements, evolving consumer preferences, and innovative business models. Technology-related drivers include improvements in digital audio quality and the accessibility of music through mobile devices, making it possible for consumers to enjoy high-quality music anytime, anywhere. The proliferation of smart devices like voice-activated speakers has further integrated music consumption into daily life, expanding the contexts in which people listen to music. Consumer behavior has shifted towards subscription-based models, reflecting a preference for accessing a broad array of music rather than owning individual tracks or albums. Economically, the industry has adapted by developing diverse revenue streams that include not only music sales and streaming but also live performance royalties, merchandise, and brand partnerships. These trends underscore a vibrant sector that is continuously adapting to technological innovations and changing consumer demands, setting the stage for sustained growth in the years to come.
Global Recorded Music Market - Key Trends and Drivers Summarized
Recorded music represents sound recordings that capture and store musical performances, allowing them to be heard repeatedly and distributed globally. The history of recorded music traces back to the late 19th century with the invention of the phonograph by Thomas Edison, which initially used cylindrical recordings. Over the decades, this industry has undergone significant transformations, shifting from vinyl records to cassette tapes, CDs, and eventually digital formats like MP3s and streaming services. Each phase brought about changes in distribution, consumption, and the economics of the music industry. Today, recorded music includes not only physical media but also digital downloads and streaming, with the latter now constituting the largest share of market revenue. This evolution reflects broader technological advancements and changes in consumer behavior, with a growing preference for digital access to vast libraries of music over owning physical copies.The digital revolution has had a profound impact on the recorded music industry, dramatically reshaping how music is produced, distributed, and consumed. Innovations such as music streaming services like Spotify, Apple Music, and Amazon Music have become dominant, offering on-demand access to millions of songs, facilitated by internet connectivity. This shift has democratized music consumption, enabling a wider range of artists to reach global audiences without the need for traditional record deals or marketing machines. Furthermore, the rise of social media platforms has allowed artists to engage directly with fans, promote new releases, and gauge audience interest instantly and effectively. The analytics provided by digital platforms also offer unprecedented insights into listening habits, helping the industry to target audiences more precisely and tailor releases to meet changing tastes and trends.
The growth in the recorded music market is driven by several factors, including technological advancements, evolving consumer preferences, and innovative business models. Technology-related drivers include improvements in digital audio quality and the accessibility of music through mobile devices, making it possible for consumers to enjoy high-quality music anytime, anywhere. The proliferation of smart devices like voice-activated speakers has further integrated music consumption into daily life, expanding the contexts in which people listen to music. Consumer behavior has shifted towards subscription-based models, reflecting a preference for accessing a broad array of music rather than owning individual tracks or albums. Economically, the industry has adapted by developing diverse revenue streams that include not only music sales and streaming but also live performance royalties, merchandise, and brand partnerships. These trends underscore a vibrant sector that is continuously adapting to technological innovations and changing consumer demands, setting the stage for sustained growth in the years to come.
Report Scope
The report analyzes the Recorded Music market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments
Music Type (Digital Music, Physical Music, Other Music Types).Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Digital Music segment, which is expected to reach US$44.9 Billion by 2030 with a CAGR of a 12.1%. The Physical Music segment is also set to grow at 10.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $8.4 Billion in 2024, and China, forecasted to grow at an impressive 15.9% CAGR to reach $13.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Abbey Road Studios, Avex, Inc., Bertelsmann SE & Co. KGaA, Emperor Group, GMM Grammy PLC and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Recorded Music Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Recorded Music Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Recorded Music Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 42 major companies featured in this Recorded Music market report include:
- Abbey Road Studios
- Avex, Inc.
- Bertelsmann SE & Co. KGaA
- Emperor Group
- GMM Grammy PLC
- Metropolis Studios
- Quad Studios
- RAK Studios
- Real World Studios
- Sonic Ranch Voyager 51, Inc.
- Sony Music
- Sunset Sound
- United Recording
- Universal Music Group N.V.
- Warner Music Group, Inc.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abbey Road Studios
- Avex, Inc.
- Bertelsmann SE & Co. KGaA
- Emperor Group
- GMM Grammy PLC
- Metropolis Studios
- Quad Studios
- RAK Studios
- Real World Studios
- Sonic Ranch Voyager 51, Inc.
- Sony Music
- Sunset Sound
- United Recording
- Universal Music Group N.V.
- Warner Music Group, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 183 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 31.2 Billion |
| Forecasted Market Value ( USD | $ 60.3 Billion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | Global |
