Worldwide Music Industry to 2025 - Accelerating Number of Paid Streaming Subscribers is Driving Growth
DUBLIN, Sept. 2, 2021 /PRNewswire/ -- The "Global Music Market (Recorded Music, Streaming & Publishing): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com's offering.
The global music market is expected to record a value of US$70.02 billion in 2025, progressing at a CAGR of 3.39% for the duration spanning 2021-2025.
Factors such as the accelerating number of paid streaming subscribers, rising adoption of smartphones, expanding music consumption, growing popularity of digital music streaming platforms and growing integration with social media platforms are expected to drive the market.
However, the market growth would be challenged by declining ARPU of digital music platforms, availability of pirated channels and privacy issues. The market is anticipated to experience certain trends like improved mobile networks (4G & 5G Technology), mounting penetration of the internet and advancements in technology.
According to type, the global music market can be bifurcated into recorded music, streaming, music publishing and others such as live music and broadcast. Further, the recorded music market can be split into streaming (subscription & ad supported), physical, download & other digital and others, on the basis of format. Depending on the category, the global music streaming market can be categorized into subscription and ad-supported.
The global music streaming market, on the other hand, can be divided into digital, performance, synchronization and mechanical, in terms of category.
The fastest growing recorded music market is the U.S. on account of rising smartphone penetration, increasing number of paid subscriptions to on-demand streaming services, growing music consumption on account of changing tastes and preferences of consumers and growing investment of record companies for digitization.
However, the market experienced a slow growth in 2020, due to the COVID-19 pandemic, which resulted in limiting studio recording and shutting down live music sector and other operations of the recorded music market across the region.
Scope of the report
- The report provides a comprehensive analysis of the global music market segmented on the basis of type and region.
- The major regional and country markets (the U.S., Japan, the U.K., Germany, China and Rest of the World) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Sony Group Corporation, Bertelsmann SE & Co. KGaA, Vivendi SE, Spotify Technology S.A., Warner Music Group Corp. and Kobalt Music Group, Ltd.) are also presented in detail.
Key Topics Covered:
1. Market Overview
2. Impact of COVID-19
2.1 Cancellation of Music Events
2.2 Growth in Streaming Subscriptions
2.3 Escalating Number of Social Media Users
3. Market Analysis
3.1 Global Music Market by Value
3.2 Global Music Market Forecast by Value
3.3 Global Music Market by Type
3.3.1 Global Recorded Music Market by Value
3.3.2 Global Recorded Music Market Forecast by Value
3.3.3 Global Recorded Music Market by Format
3.3.4 Global Recorded Music Format Market by Value
3.3.5 Global Recorded Music Format Market Forecast by Value
3.3.6 Global Music Streaming Market by Value
3.3.7 Global Music Streaming Market Forecast by Value
3.3.8 Global Music Streaming Market by Category
3.3.9 Global Music Streaming Category Market by Value
3.3.10 Global Music Streaming Category Market Forecast by Value
3.3.11 Global Music Publishing Market by Value
3.3.12 Global Music Publishing Market Forecast by Value
3.3.13 Global Music Publishing Market Value by Category
3.3.14 Global Music Publishing Category Market by Value
3.3.15 Global Music Publishing Category Market Forecast by Value
3.4 Global Recorded Music Market by Region
3.5 Global Music Streaming Market by Region
4. Recorded Music & Streaming - Regional Market Analysis
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Accelerating Number of Paid Streaming Subscribers
5.1.2 Rising Adoption of Smartphones
5.1.3 Expanding Music Consumption
5.1.4 Growing Popularity of Digital Music Streaming Platforms
5.1.5 Growing Integration with Social Media Platforms
5.2 Key Trends and Developments
5.2.1 Improved Mobile Networks (4G and 5G Technology)
5.2.2 Mounting Penetration of Internet
5.2.3 Advancements in Technology
5.3 Challenges
5.3.1 Declining ARPU of Digital Music Platforms
5.3.2 Availability of Pirated Channels
5.3.3 Privacy Issues
6. Competitive Landscape
6.1 Global Market
6.1.1 Revenue Comparison of Key Players
6.1.2 Market Capitalization Comparison of Key Players
6.1.3 R&D Comparison of Key Players
6.1.4 Global Recorded Music Market Share by Key Players
6.1.5 Global Music Streaming Market Share by Key Players
7. Company Profiles
7.1 Sony Group Corporation (Sony Music Entertainment)
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategies
7.2 Bertelsmann SE & Co. KGaA (BMG Rights Management)
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategies
7.3 Vivendi SE (Universal Music Group)
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategies
7.4 Spotify Technology S.A.
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategies
7.5 Warner Music Group Corp.
7.5.1 Business Overview
7.5.2 Financial Overview
7.5.3 Business Strategies
7.6 Kobalt Music Group, Ltd.
7.6.1 Business Overview
7.6.2 Business Strategies
For more information about this report visit https://www.researchandmarkets.com/r/7likm4
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