Key Market Indicators
Serbian music expenditure is projected to reach approximately €3.4 billion by 2028, up from €2.8 billion in 2023. This marks an average annual growth rate of 3%. Since 2000, Serbian demand for music has increased by an average of 11.1% each year. In 2023, Serbia ranked 25th in music expenditure, with Lithuania slightly ahead at €2.8 billion. Leading the ranks were Germany, France, and Italy, occupying the second, third, and fourth positions respectively. Meanwhile, Serbian music revenue is expected to decline to €5.1 million by 2028, down from €6 million in 2023. This represents a compound annual growth rate (CAGR) of -2.2%. Since 2019, the Serbian music market has seen a yearly decrease of 1.1%. In 2023, Serbia was positioned 27th in revenue, with Lithuania again ahead at €6 million. The United Kingdom, France, and Sweden held the second, third, and fourth positions respectively in this ranking.
