Key Market Indicators
Slovak music expenditure is projected to climb to approximately €6.9 billion by 2028, rising from around €6.1 billion in 2023. This reflects an average annual growth rate of 2%. Since the turn of the century, Slovak demand for music has increased by an average of 4.2% each year. In 2023, Slovakia ranked 21st in music expenditure, with Hungary surpassing it at the same expenditure level. Germany, France, and Italy held the second, third, and fourth spots respectively in this ranking. Meanwhile, Slovak music revenue is expected to reach nearly €11 million by 2028, up from about €9.7 million in 2023. This indicates a compound annual growth rate (CAGR) of 1.7%. However, since 2013, the Slovak market has seen a decline of 2.7% annually. In 2023, Slovakia was ranked 24th in music revenue, trailing behind Slovenia with the same revenue figure. The United Kingdom, France, and Sweden occupied the second, third, and fourth positions respectively in this ranking.
