Key Market Indicators
Latvian music revenue is projected to reach approximately €2.7 million by 2028, down from around €2.8 million in 2023, marking a year-on-year decline of 0.7%. The Latvian music market has been on a downward trend, decreasing by 5.4% annually since 2013. In 2023, Latvia ranked 29th in music revenue, with Malta slightly ahead at €2.8 million. Leading the rankings were the United Kingdom, France, and Sweden, occupying the second, third, and fourth spots respectively. Conversely, Latvian music expenditure is on the rise. By 2028, it is expected to reach €2,170 million, up from €1,880 million in 2023, reflecting a year-on-year growth rate of 2.3%. Since 2000, the demand for music in Latvia has increased by 2.1% annually. In 2023, Latvia ranked 27th in music expenditure, with Slovenia just ahead at €1,880 million. Germany, France, and Italy took the second, third, and fourth positions respectively in this category.
