Key Market Indicators
Iceland's Music Revenue is projected to soar to €63 million by 2028, rising from €43 million in 2023. This marks an average annual growth rate of 6.1%. Notably, since 2019, the Icelandic music market has experienced a yearly increase of 7.3%. On the expenditure front, Iceland's Music Expenditure is expected to climb to €1.75 billion by 2028, up from €1.62 billion in 2023. This represents an average annual growth of 1.2%. Since 2000, the country's music demand has grown at an annual rate of 3.4%. In 2023, Iceland ranked 29th in music expenditure, with Estonia surpassing it by matching the €1.62 billion mark. Leading the rankings were Germany, France, and Italy, occupying the second, third, and fourth positions respectively.