Key Market Indicators
Norwegian music expenditure is projected to climb to approximately €21,300 million by 2028, up from around €19,600 million in 2023. This marks an average annual growth rate of 1.4%. Historical data reveals that since 1980, Norwegian demand for music has increased by 2.9% each year. In 2023, Norway ranked 11th in music expenditure, with Austria just ahead, recording the same figure of €19,600 million. Leading the pack in this ranking were Germany, France, and Italy, occupying the second, third, and fourth spots respectively. On the revenue front, Norwegian music revenue is anticipated to reach nearly €293 million by 2028, rising from about €248 million in 2023. This translates to a compound annual growth rate (CAGR) of 2.7%. Looking back to 2013, the Norwegian music market has experienced an average annual growth rate of 4.6%. In the 2023 rankings, Norway secured the eighth position in music revenue, with Italy slightly ahead at the same figure of €248 million. The United Kingdom, France, and Sweden were the top contenders, taking the second, third, and fourth positions respectively.
