Please Wait.....
Report
Music - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)
Market Report I 2026-01-16 I 120 Pages I Mordor Intelligence
Music Market Analysis
Music market size in 2026 is estimated at USD 36.13 billion, growing from 2025 value of USD 33.32 billion with 2031 projections showing USD 54.09 billion, growing at 8.42% CAGR over 2026-2031. Streaming commands 67.73% music market share in 2025, reaffirming the sector's ongoing shift from physical formats toward access-based consumption. Parallel expansion in performance rights, live experiences, and commercial licensing adds depth to overall revenue growth. Smartphone penetration, better bandwidth, and rising disposable incomes in emerging economies amplify demand momentum, while catalog acquisitions and immersive audio formats reinforce premium-tier monetization. Competitive strategies prioritize vertical integration and data-driven A&R, and opportunities arise in B2B licensing, localized content, and direct-to-fan ecosystems.
Global Music Market Trends and Insights
Accelerated Adoption of Music-Streaming Subscriptions
Premium-tier optimization now outweighs basic subscriber acquisition. Spotify's USD 4.5 billion payout to independent labels and publishers in 2024 illustrates elevated royalty throughput, yet the platform's emphasis has shifted toward lossless codecs, exclusive drops, and bundled virtual events that lift ARPU. High-value tiers foster richer data analytics, shaping artist discovery and marketing spend efficiency. Developed markets focus on price segmentation, while emerging regions deliver sheer volume growth backed by mobile payment integration. The driver elevates total streams, boosts performance rights, and underpins cross-channel bundling for live-streamed concerts.
Rising Smartphone and Internet Penetration in Emerging Markets
Infrastructure upgrades across India, Indonesia, and Brazil unlock new listener cohorts, establishing mobile-first consumption norms that bypass physical retail constraints. India's recorded-music revenue climbed to USD 1.9 billion (INR 24 billion) in 2024 and is poised to hit USD 2.9 billion (INR 37 billion) by 2026, a 14.7% CAGR, propelled by regional-language catalogs and low-cost data plans. Monetization remains skewed toward ad-supported tiers, yet localized content commands higher engagement and advertising premiums. Embedded micro-payment options empower direct artist-to-fan transactions, shrinking intermediary margins and reshaping value distribution.
Persistent Copyright Infringement and Digital Piracy
The Recording Industry Association of America estimated USD 12.5 billion in U.S. revenue losses from illicit consumption in 2024. Stream-ripping tools undermine legitimate platforms, particularly where enforcement is weak and ad-supported options remain scarce. Decentralized distribution channels leveraging peer-to-peer protocols complicate takedown actions. Rights holders divert resources to legal measures and watermarking technology that could otherwise fund artist development. The macro impact depresses ROI expectations in high-piracy territories and slows premium service rollouts.
Other drivers and restraints analyzed in the detailed report include:
Growth of Social Media and Short-Form Video Platforms Fuelling Music DiscoveryStrong Investment and Catalog Acquisitions by Record Labels and Private EquityGrowing Bargaining Power of Top Creators Driving Royalty Costs
For complete list of drivers and restraints, kindly check the Table Of Contents.
Segment Analysis
Streaming represented 67.95% of the music market in 2025 and is projected to rise modestly as premium tiers widen and regional penetration deepens. Performance rights contribute the fastest incremental revenue at a 9.07% CAGR, reflecting renewed emphasis on live experiences and background-music licensing. Digital downloads contract sharply, reducing their share of the music market size, while vinyl's niche revival adds boutique value for collectors. Synchronization revenues expand alongside film and gaming output, offering non-linear growth uncoupled from subscriber totals.
Merchandising and licensing captured USD 5.09 billion in 2024, up 16.4% year-over-year, supported by global brand-licensing momentum. Concert attendees' merchandise purchase incidence climbed to 19%, signaling a durable appetite for experiential memorabilia. Platforms diversify into ticketing, livestreaming, and merch fulfillment within a single app environment, cementing higher lifetime value per user and mitigating reliance on any single income source.
Pop maintained 27.65% music market share in 2025, yet Latin music delivered the highest trajectory with an 8.70% CAGR through 2031, buoyed by cross-border collaborations and rhythmic suitability for social-video virality. Hip-hop and rap sustain heavy stream counts, while electronic subgenres benefit from festival circuits and immersive audiovisual staging. Rock regains touring momentum, capitalizing on nostalgic fan bases willing to purchase premium vinyl editions.
Genre blending accelerates as DSP curation emphasizes mood over traditional classification. Regional Mexican and K-pop illustrate localized content ascending to global charts through algorithmic discovery. Classical and jazz remain niche but enjoy high per-capita spend and synchronization appeal for luxury advertising. Diversification across genres hedges revenue against cyclical popularity swings, stabilizing aggregate music market performance.
The Music Market Report is Segmented by Revenue Generation Format (Streaming, Digital Downloads, and More), Genre (Pop, Rock, Hip-Hop/Rap, Electronic/Dance, and More), Distribution Channel (Online Platforms, and Offline/Brick-and-Mortar Retail), End User (Individual Consumers, Commercial Establishments, Media and Entertainment Producers, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).
Geography Analysis
North America commanded 34.21% of the music market in 2025, anchored by high ARPU and mature premium-tier penetration. Advanced rights-management structures and a robust live circuit lift blended monetization. Government-supported content funds in Canada strengthen domestic artist export capacity, while U.S. tech hubs pioneer immersive audio and AI-powered recommendation engines. Regulatory debate shifts toward AI-generated content ownership, prompting proactive licensing frameworks across DSPs and major labels.
Asia Pacific is the fastest-growing region at a 9.02% CAGR through 2031. China's ecosystem remains domestically oriented, yet Tencent-backed platforms extend international licensing outreach. India's rapid rise stems from local language catalogs, short-form video tie-ins, and frictionless micro-payments. Japan and South Korea demonstrate premium-content monetization via bundled entertainment packages that combine music, drama, and gaming subscriptions. Regional growth relies on continued infrastructure deployments and harmonized rights regimes.
Europe leverages consumer-protection regulations and carbon targets to influence global platform standards. The Digital Services Act introduces heightened liability for unlicensed uploads, encouraging proactive content-ID systems. Latin America benefits from genre-specific acceleration, notably reggaeton's mainstream adoption. However, currency volatility complicates royalty repatriation. The Middle East and Africa region exhibits rapid user growth but revenue lags due to ad-supported dominance and payment-gateway limitations. Cross-border licensing consortia seek to streamline deals and unlock latent spend as economic development lifts disposable incomes.
List of Companies Covered in this Report:
Universal Music Group N.V. Sony Music Entertainment (Sony Corporation of America) Warner Music Group Corp. BMG Rights Management GmbH Kobalt Music Group Ltd. Spotify Technology S.A. Apple Inc. (Apple Music) Amazon.com, Inc. (Amazon Music) Alphabet Inc. (YouTube Music) Tencent Music Entertainment Group Deezer S.A. Tidal Music AS SoundCloud Global Limited and Co. KG Pandora Media, LLC (Sirius XM Holdings Inc.) NetEase Cloud Music (NetEase, Inc.) Anghami Inc. Melon Company (Kakao Entertainment) Yandex Music LLC Boomplay Music Group Limited JioSaavn LLC KKBOX Inc. Curb Records, Inc. Believe S.A. CD Baby, Inc.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Market Definition and Scope
1.2 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET LANDSCAPE
4.1 Market Overview
4.2 Market Drivers
4.2.1 Accelerated adoption of music-streaming subscriptions
4.2.2 Rising smartphone and internet penetration in emerging markets
4.2.3 Growth of social media and short-form video platforms fuelling music discovery
4.2.4 Strong investment and catalog acquisitions by record labels and private equity
4.2.5 Proliferation of immersive audio formats (Dolby Atmos, Sony 360RA) boosting ARPU
4.2.6 Blockchain-enabled direct-to-fan monetization models (NFTs, fractional ownership)
4.3 Market Restraints
4.3.1 Persistent copyright infringement and digital piracy
4.3.2 Growing bargaining power of top creators driving royalty costs
4.3.3 Fragmentation of licensing regimes in emerging markets delaying service launches
4.3.4 Rising carbon scrutiny of data-center energy use for streaming
4.4 Regulatory Landscape
4.5 Technological Outlook
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Industry Stakeholder Analysis
4.8 Impact of Macroeconomic Factors on the Market
5 MARKET SIZE AND GROWTH FORECASTS (VALUE)
5.1 By Revenue Generation Format
5.1.1 Streaming
5.1.2 Digital Downloads (ex-Streaming)
5.1.3 Physical Products
5.1.4 Performance Rights
5.1.5 Synchronization Revenues
5.1.6 Merchandising and Licensing
5.2 By Genre
5.2.1 Pop
5.2.2 Rock
5.2.3 Hip-Hop / Rap
5.2.4 Electronic / Dance
5.2.5 Classical
5.2.6 Jazz
5.2.7 Country
5.2.8 Latin
5.3 By Distribution Channel
5.3.1 Online Platforms
5.3.2 Offline / Brick-and-Mortar Retail
5.4 By End User
5.4.1 Individual Consumers
5.4.2 Commercial Establishments (bars, hotels, retail)
5.4.3 Media and Entertainment Producers (film, TV, gaming)
5.4.4 Brands and Advertisers
5.4.5 Event and Concert Organizers
5.5 By Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.2 South America
5.5.2.1 Brazil
5.5.2.2 Argentina
5.5.2.3 Rest of South America
5.5.3 Europe
5.5.3.1 Germany
5.5.3.2 United Kingdom
5.5.3.3 France
5.5.3.4 Spain
5.5.3.5 Italy
5.5.3.6 Russia
5.5.3.7 Rest of Europe
5.5.4 Asia Pacific
5.5.4.1 China
5.5.4.2 Japan
5.5.4.3 India
5.5.4.4 South Korea
5.5.4.5 Australia and New Zealand
5.5.4.6 Rest of Asia Pacific
5.5.5 Middle East and Africa
5.5.5.1 Middle East
5.5.5.1.1 United Arab Emirates
5.5.5.1.2 Saudi Arabia
5.5.5.1.3 Turkey
5.5.5.1.4 Rest of Middle East
5.5.5.2 Africa
5.5.5.2.1 South Africa
5.5.5.2.2 Egypt
5.5.5.2.3 Rest of Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration
6.2 Strategic Moves
6.3 Market Share Analysis
6.4 Company Profiles (includes Global-level Overview, Market-level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)
6.4.1 Universal Music Group N.V.
6.4.2 Sony Music Entertainment (Sony Corporation of America)
6.4.3 Warner Music Group Corp.
6.4.4 BMG Rights Management GmbH
6.4.5 Kobalt Music Group Ltd.
6.4.6 Spotify Technology S.A.
6.4.7 Apple Inc. (Apple Music)
6.4.8 Amazon.com, Inc. (Amazon Music)
6.4.9 Alphabet Inc. (YouTube Music)
6.4.10 Tencent Music Entertainment Group
6.4.11 Deezer S.A.
6.4.12 Tidal Music AS
6.4.13 SoundCloud Global Limited and Co. KG
6.4.14 Pandora Media, LLC (Sirius XM Holdings Inc.)
6.4.15 NetEase Cloud Music (NetEase, Inc.)
6.4.16 Anghami Inc.
6.4.17 Melon Company (Kakao Entertainment)
6.4.18 Yandex Music LLC
6.4.19 Boomplay Music Group Limited
6.4.20 JioSaavn LLC
6.4.21 KKBOX Inc.
6.4.22 Curb Records, Inc.
6.4.23 Believe S.A.
6.4.24 CD Baby, Inc.
7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK
7.1 White-space and Unmet-Need Assessment
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security