Based on the 2024 forecasted data, the United Kingdom leads the European market in sound recording and music publishing with a production value of 3.76 billion Euros, followed by Germany (2.7 billion Euros) and France (1.26 billion Euros). Sweden, the Netherlands, and Italy also contribute significantly, while smaller markets like Greece, Serbia, and Cyprus show minimal production values.
From a year-on-year variation perspective for 2023:
- The United Kingdom and Norway experienced growth rates of 4.11% and 4.58%, respectively. France showed a strong increase of 7.3%, while Portugal saw a substantial rise of 11.77%.
- Denmark and Iceland also demonstrated significant growth with 4.01% and 9.6%, respectively. Conversely, Belgium and Poland showed declines of -2.5% and -3.47%, while Cyprus dropped sharply by -24.21%.
Over the last five years, the Compound Annual Growth Rate (CAGR) reveals disparate trends in the market. While some countries like Luxembourg and Macedonia show impressive CAGRs, Greece and Cyprus have consistently declined.
Future trends to watch include the digital transformation of the music industry, technological advancements in sound recording, and the rise of music streaming platforms. Additionally, markets with significant growth potential like France, Ireland, and Romania offer promising opportunities for investment and expansion.
Top countries in Production Value of Sound Recording and Music Publishing by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 3,760 | 2023 | +3.27% | +4.11% | View data |
| 2 | 2 Germany | 2,700 | 2023 | +3.93% | +1.66% | View data |
| 3 | 3 France | 1,260 | 2023 | +9.38% | +7.3% | View data |
| 4 | 4 Sweden | 704.9 | 2023 | +2.4% | +2.66% | View data |
| 5 | 5 Netherlands | 521.5 | 2023 | +5.18% | +2.4% | View data |
| 6 | 6 Italy | 376.4 | 2023 | -0.21% | +2.19% | View data |
| 7 | 7 Spain | 306.2 | 2023 | +1.39% | +2.61% | View data |
| 8 | 8 Norway | 247.4 | 2023 | +3.86% | +4.58% | View data |
| 9 | 9 Denmark | 180.8 | 2023 | +4.03% | +4.01% | View data |
| 10 | 10 Belgium | 163.9 | 2023 | +10.22% | -2.5% | View data |
