The turnover in the Sound Recording and Music Publishing sector in Norway is forecasted to grow steadily from 2024 to 2028, following a growth trend that has been observed in prior years. By 2024, the industry is expected to reach 256.8 million Euros, increasing each year and reaching 292.7 million Euros by 2028. Compared to the previous year's figures, 2023 saw a turnover of 247.5 million Euros. This reveals a year-on-year growth of approximately 3.6% from 2023 to 2024. Over the next few years, this sector will experience an average compound annual growth rate (CAGR) of 3.33%.
Future trends to watch for include the increasing significance of digital streaming services, the impact of new technologies like AI in music production, and the evolution of music consumption habits among younger demographics. Additionally, the role of international collaborations and the export of Norwegian music should be monitored as key trends shaping the industry's future trajectory.
