Key Market Indicators
Belgian music expenditure is projected to hit €20.75 billion by 2028, up from €19.51 billion in 2023. This represents an average annual growth rate of 1%. Since 2000, the demand for music in Belgium has seen a steady increase of 0.5% annually. In 2023, Belgium was ranked 12th in terms of music expenditure, with Norway surpassing it at the same €19.51 billion mark. Leading the rankings were Germany, France, and Italy, occupying the second, third, and fourth positions respectively. Meanwhile, Belgian music revenue is expected to slightly decline, reaching €166.8 million by 2028, down from €167.9 million in 2023. This indicates an average annual decrease of 0.1%. Since 2013, the Belgian music market has been contracting at a rate of 2.1% per year. In 2023, Belgium secured the ninth position in music revenue, trailing Norway at €167.9 million. The United Kingdom, France, and Sweden held the second, third, and fourth spots respectively in this category.
