Musical Groups And Artists Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 30.30 Billion |
| Market Size (2029) | USD 43.60 Billion |
| CAGR (2024 - 2029) | 7.55 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Musical Groups And Artists Market Analysis
The Musical Groups And Artists Market size is estimated at USD 30.30 billion in 2024, and is expected to reach USD 43.60 billion by 2029, growing at a CAGR of 7.55% during the forecast period (2024-2029).
- The rise of digital platforms and social media has empowered independent artists to produce and distribute their music without relying on traditional record labels. Independent artists can connect directly with their fans, retain creative control, and access various digital distribution channels.
- Collaborations between artists from different genres and backgrounds have become increasingly popular. Collaborative projects and features help artists expand their fan base, experiment with different styles, and create unique musical experiences.
- The music industry has become more globalized, with artists from different countries and cultures gaining international recognition. Streaming platforms have facilitated the discovery of music from various regions, leading to the popularity of genres such as K-pop, Latin music, and Afro beats on a global scale.
- Social media platforms have become essential tools for artists to promote their music, engage with fans, and build a strong online presence. Digital marketing strategies, including targeted advertising and influencer collaborations, play a crucial role in reaching and expanding the fan base.
Musical Groups And Artists Market Trends
Live Music Dominated the Market
- Live music is anticipated to be a key driver of the musical groups and artists industry. Prominent live music event organizers are prioritizing customer satisfaction and introducing various mobile applications to enhance accessibility and convenience for customers.
- Additionally, they provide services such as ticket sales, merchandise, and accommodation. Furthermore, event organizers are forming partnerships with online ticket providers, recognizing the prevalent use of smartphones among the youth for booking tickets to music events.
- The increasing penetration of 5G technologies is expected to further enhance the utilization of digital platforms in the music event market for tasks such as ticket booking, meal ordering, and hotel accommodation. These advancements are poised to significantly bolster the music industry and contribute to the overall growth of the musical groups and artists industry.
Digital Revenue of The Music Industry
- The digital music industry is primarily driven by increased digitization and widespread internet penetration. Key contributors to the music industry's growth include online music distribution by artists, advertising spending, and augmented sales resulting from the popularity of streaming services.
- Additionally, the rise in mobile-based music applications and the surge in subscription-based services play pivotal roles in fostering the expansion of musical groups and the artists industry.
- Despite these positive trends, the industry faces significant challenges, particularly in terms of privacy and data security concerns associated with the use of online platforms and ticket vendors.
Musical Groups And Artists Industry Overview
The music groups and artists market is highly competitive. With the decline in physical album sales, artists have diversified their revenue streams. They rely on income sources, including streaming royalties, merchandise sales, brand partnerships, sponsorships, and fan-supported platforms such as Patreon and crowdfunding. The major players are BMG Rights Management GmbH, Kobalt Music Group, Ltd., Sony Music Entertainment, Universal Music Group, and Warner Music Inc..
Musical Groups And Artists Market Leaders
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BMG Rights Management GmbH
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Kobalt Music Group, Ltd.
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Universal Music Group
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Warner Music Inc
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Sony Music Entertainment
*Disclaimer: Major Players sorted in no particular order
Musical Groups And Artists Market News
- November 2023: Believe, a globally recognized digital music company, and TuneCore, a prominent development partner for self-releasing artists, reaffirmed their partnership with MIDiA, a leading market intelligence and consulting firm.
- January 2022: AEG Presents, a top-tier global live entertainment company, successfully acquired the Bowery Presents, a distinguished independent concert promoter located in New York. This strategic acquisition further solidified AEG Presents' presence in the highly competitive New York City market, augmenting its capacity to curate and produce live music events across diverse venues in the city.
Musical Groups And Artists Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Popularity of Live Music Drives The Market
4.3 Market Restraints
4.3.1 Competition From Virtual And Online Events
4.4 Market Opportunities
4.4.1 Technological Innovations In Musical And Artists Market
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology Innovation in the Market.
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Music Festivals
5.1.2 Music Concerts
5.1.3 Music Shows
5.1.4 Other Types
5.2 By Genre
5.2.1 Rock
5.2.2 Pop
5.2.3 EDM
5.2.4 Other Genres
5.3 By Revenue Source
5.3.1 Tickets
5.3.2 Sponsorship
5.3.3 Other Revenue Sources
5.4 By Age Group
5.4.1 Below 20 Years
5.4.2 21 to 40 Years
5.4.3 Above 40 Years
5.5 By Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Rest of North America
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 France
5.5.2.3 United Kingdom
5.5.2.4 Italy
5.5.2.5 Netherlands
5.5.2.6 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 India
5.5.3.3 Japan
5.5.3.4 Australia
5.5.3.5 Rest of Asia Pacific
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest Of South America
5.5.5 Middle East & Africa
5.5.5.1 South Africa
5.5.5.2 UAE
5.5.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 BMG Rights Management GmbH
6.2.2 Kobalt Music Group, Ltd.
6.2.3 Sony Music Entertainment
6.2.4 Universal Music Group
6.2.5 Warner Music Inc
6.2.6 Live Nation Entertainment, Inc.
6.2.7 AEG Presents
6.2.8 The Madison Square Garden Company
6.2.9 C3 Presents
6.2.10 StubHub*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Musical Groups And Artists Industry Segmentation
The musical groups and artists industry includes companies primarily engaged in producing live presentations that involve the performances of musicians and/or vocalists. Companies in this industry may consist of groups or individual artists.
The global musical groups and artists market is segmented by type into music festivals, music concerts, music shows, and other types. By genre, the market is segmented into rock, pop, EDM, and other genres. By revenue source, the market is segmented into tickets, sponsorship, and other revenue sources. By age group, the market is segmented into below 20 years, 21 to 40 years, and above 40 years. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
The market sizes and forecasts are provided in terms of value in (USD) for all the above segments.
| By Type | |
| Music Festivals | |
| Music Concerts | |
| Music Shows | |
| Other Types |
| By Genre | |
| Rock | |
| Pop | |
| EDM | |
| Other Genres |
| By Revenue Source | |
| Tickets | |
| Sponsorship | |
| Other Revenue Sources |
| By Age Group | |
| Below 20 Years | |
| 21 to 40 Years | |
| Above 40 Years |
| By Geography | ||||||||
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Musical Groups And Artists Market Research FAQs
How big is the Musical Groups And Artists Market?
The Musical Groups And Artists Market size is expected to reach USD 30.30 billion in 2024 and grow at a CAGR of 7.55% to reach USD 43.60 billion by 2029.
What is the current Musical Groups And Artists Market size?
In 2024, the Musical Groups And Artists Market size is expected to reach USD 30.30 billion.
Who are the key players in Musical Groups And Artists Market?
BMG Rights Management GmbH, Kobalt Music Group, Ltd., Universal Music Group, Warner Music Inc and Sony Music Entertainment are the major companies operating in the Musical Groups And Artists Market.
What years does this Musical Groups And Artists Market cover, and what was the market size in 2023?
In 2023, the Musical Groups And Artists Market size was estimated at USD 28.01 billion. The report covers the Musical Groups And Artists Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Musical Groups And Artists Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Musical Groups And Artists Industry Report
Statistics for the 2024 Musical Groups And Artists market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Musical Groups And Artists analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
