Key Market Indicators
Bulgarian music expenditure is projected to soar to approximately €4.4 billion by 2028, climbing from €3.7 billion in 2023. This represents an annual growth rate of 2.7%. Since the turn of the millennium, Bulgaria has seen a steady increase in its music demand, growing at 6.1% per year. In 2023, Bulgaria ranked 23rd globally in music expenditure, with Croatia slightly ahead at the same €3.7 billion mark. Leading the pack in this ranking were Germany, France, and Italy, occupying the second, third, and fourth positions respectively. On the revenue front, Bulgarian music revenue is anticipated to reach around €33 million by 2028, up from €27 million in 2023, marking an average annual growth rate of 3.5%. Since 2013, the country's music market has expanded by 5.3% each year. In 2023, Bulgaria stood at 22nd place in global music revenue rankings, with Croatia again slightly ahead at €27 million. The United Kingdom, France, and Sweden were the top three nations in this category.
