Key Market Indicators
Portuguese music expenditure is projected to hit €9 billion by 2028, up from €8.5 billion in 2023, marking a steady annual growth rate of 1.1%. This increase continues a trend established since 2000, during which Portuguese demand has risen by an average of 1.3% each year. In 2023, Portugal ranked 18th globally in music expenditure, with Greece surpassing it at the same €8.5 billion mark. Leading the rankings were Germany, France, and Italy, occupying the second, third, and fourth positions, respectively. Meanwhile, Portuguese music revenue is expected to climb to €65 million by 2028 from its 2023 figure of €56 million, reflecting a compound annual growth rate (CAGR) of 2.3%. Since 2013, the Portuguese market has seen a robust annual growth rate of 9.6%. In terms of revenue, Portugal also held the 18th position in 2023, with Hungary overtaking it at €56 million. The United Kingdom, France, and Sweden were the front-runners in this category, ranking second, third, and fourth, respectively.
