Music Market Outlook 2024 - 2028

Daily Updated Industry Statistics and Top Emerging Trends about the Music Industry

European Music Trends in 2024

Music is part of Media And Entertainment and includes a number of sub-sectors such as Record Label, Concert, Music Distribution and Music Production. You may also be interested in Broadcasting and Advertising.

European music revenue is projected to climb to approximately €13.5 billion by 2028, up from €12.2 billion in 2023, marking an average annual growth rate of 1.9%. This follows a trend since 2019, where the market has grown by an average of 3.7% per year. In 2023, Germany led the European music revenue market with earnings of €4.1 billion. The United Kingdom, France, and Sweden followed, holding the second, third, and fourth positions, respectively. Notably, Portugal saw a significant year-on-year increase of 9.6%, while Cyprus experienced a decline of 24.2% since 2019. On the expenditure front, European music spending is expected to decrease slightly to €884.3 billion by 2028 from €897.4 billion in 2023, growing at an average annual rate of 0.9%. Since 2019, the demand for European music has risen by 1.8% annually. The United Kingdom topped the European household culture expenditure rankings in 2023 with €182.7 billion. Germany, France, and Italy followed in second, third, and fourth places, respectively. Serbia showed a notable year-on-year increase of 11.1%, whereas Albania's expenditure dropped by 2.2% since 2019.

Top 10 countries

In 2024 major markets in the Music Industry were:

World Music Market Data and Forecasts

How much the Music industry is expected to grow to 2028?

Forecast: European Household Expenditure on Recreation and Culture
Forecast: European Turnover of Sound Recording and Music Publishing
Forecast: Turnover of Sound Recording and Music Publishing in the EU28
Forecast: Turnover of Sound Recording and Music Publishing in Germany
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Global Music Statistics

Global Music Industry Database