From 2013 to 2023, the turnover in the Sound Recording and Music Publishing Activities sector in Germany has seen significant growth, rising from €2.34 billion to €4.06 billion. This represents a substantial increase with notable year-on-year fluctuations. For instance, the sector experienced high growth rates of 18.17% in 2014 and 14.5% in 2018, but also faced declines like -7.46% in 2015. The sector showed resilience with consistent growth from 2020 to 2023, with a 4.38% year-on-year increase in 2023. The CAGR for the past five years (ending 2023) stood at 4.1%.
Looking forward, the forecast from 2024 to 2028 suggests a steady growth with a forecasted compound annual growth rate (CAGR) of 2.92%. This indicates a continued positive trend, reaching an estimated turnover of €4.88 billion by 2028.
Future trends to watch for include:
- The impact of digital transformation and streaming services on revenue generation.
- The effects of emerging technologies like AI on music creation and distribution.
- Potential shifts in consumer behavior post-pandemic influencing the dynamics of music consumption.
