Key Market Indicators
Spain's music expenditure is projected to reach approximately €74 billion by 2028, up from nearly €65 billion in 2023. This represents an average annual growth rate of 2%. Historically, since 2000, Spanish demand for music has increased by an average of 3.8% annually. In 2023, Spain ranked fifth in music expenditure, with Italy narrowly ahead at around €65 billion. Germany, France, and Italy occupied the second, third, and fourth positions, respectively. Meanwhile, Spanish music revenue is expected to climb to nearly €500 million by 2028, up from about €430 million in 2023, marking a compound annual growth rate (CAGR) of 2.4%. Since 2013, the Spanish music market has seen a robust annual growth rate of 6.3%.