Key Market Indicators
The revenue from the British music industry is projected to climb to €4.16 billion by 2028, starting from €3.64 billion in 2023. This growth represents an annual average increase of 2.1%. Over the past decade, the British market has consistently expanded, achieving an annual growth rate of 3.8%. In 2023, the United Kingdom held the second spot in global rankings, with Germany leading at €3.64 billion. Trailing the UK were France and Sweden, occupying the third and fourth positions, respectively. On the expenditure front, British music spending is expected to reach €197 billion by 2028, up from €183 billion in 2023. This translates to a compound annual growth rate (CAGR) of 1.3%. Since the turn of the millennium, British demand for music has risen by 2.2% each year. In terms of expenditure, Germany, France, and Italy followed closely, ranking second, third, and fourth, respectively.
