Key Market Indicators
**Estonian Music Expenditure to Reach €2 Billion by 2028** Estonia's music expenditure is projected to climb from €1.7 billion in 2023 to approximately €2 billion by 2028, marking an average annual growth rate of 3.3%. This follows a trend of increasing demand, which has seen an average yearly rise of 8.3% since 2000. In 2023, Estonia was ranked 28th globally in music expenditure, with neighboring Latvia surpassing it at the same €1.7 billion mark. Leading the rankings were Germany, France, and Italy, occupying the second, third, and fourth spots, respectively. **Music Revenue Dips Slightly in Estonia** Estonian music revenue experienced a slight decline, falling from €5.6 million in 2019 to close to €5.3 million in 2020, a decrease of 5.4% year-over-year. Despite this dip, the market has shown robust growth since 2013, with an average annual increase of 8.7%.
