Key Market Indicators
Estonian Music Expenditure is projected to reach €2.1 billion by 2028, up from €1.7 billion in 2023. This marks an average annual growth rate of 3.3%. Since 2000, the demand for music in Estonia has surged by 8.3% annually. In 2023, Estonia ranked 28th globally in music expenditure, with Latvia surpassing it at €1.7 billion. Leading the rankings were Germany, France, and Italy, occupying the second, third, and fourth spots respectively. In terms of revenue, Estonia's music industry generated €5.3 million in 2020, a decline from €5.6 million in 2019, representing a 5.4% decrease. Despite this dip, the market has seen an average annual increase of 8.7% since 2013.
