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?
World Music Top Rankings
Global Music Statistics
- Number Of Employees 207 countries (Europe, Northern Europe, Southern Europe...)
- Enterprise Survival Rate 48 countries (Europe, Northern Europe, Eastern Europe...)
- Internet Penetration 237 countries (Europe, Northern Europe, Western Europe...)
- Educational Attainment 85 countries (Europe, Northern Europe, Western Europe...)
- Business Birth 52 countries (Europe, Northern Europe, Western Europe...)
- Wind Musical Instrument Import 186 countries (Africa, Latin America, Sub-Saharan Africa...)
- Online Shopping Penetration 59 countries (Europe, Northern Europe, Southern Europe...)
- Musical Instrument Accessory Import 184 countries (Latin America, Africa, Sub-Saharan Africa...)
- Online Retail Sales 49 countries (Europe, Northern Europe, Southern Europe...)
- Business Death 49 countries (Europe, Northern Europe, Western Europe...)
