Key Market Indicators
Hungarian music revenue is projected to hit €82 million by 2028, rising from €72 million in 2023. This marks an annual compound growth rate (CAGR) of 1.8%. Over the past decade, the Hungarian market has seen a year-on-year increase of 6.6%. In 2023, Hungary ranked 17th globally in music revenue, with Switzerland surpassing it at €72 million. Leading the rankings were the United Kingdom, France, and Sweden, occupying the second, third, and fourth spots, respectively. On the expenditure front, Hungarian music spending is expected to reach €7.4 billion by 2028, up from €6.5 billion in 2023, reflecting a 2% annual CAGR. Since the turn of the millennium, Hungarian demand has grown consistently at a rate of 5.5% per year. In 2023, Hungary placed 20th in global music expenditure rankings, with Ireland just ahead at €6.5 billion. Germany, France, and Italy were the second, third, and fourth highest spenders, respectively.
