Music Market 2016-2020

  • Published: Feb 2016
  • Pages: 41
  • SKU: IRTNTR8585
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This market research report includes a detailed segmentation of the global music market by type (concert tickets, digital music, physical copies, and music publishing). It also outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are BMG, Kobalt Music, Sony/ATV Music, Universal Music, and Warner Music.

Market outlook of the music market

Technavio’s research analyst predicts the global music market to grow steadily at a CAGR of 5% during the forecast period. The growing subscription base for digital music across the world is the primary growth driver for this market. With an increase in the number of streaming services, the availability of freemium music services, and the integration of music streaming applications with social media platform, the number of digital music subscriptions has grown significantly. For instance, the collaboration of Spotify, a digital music service, and Facebook enables Spotify users to access their accounts through Facebook and share playlists within their network. 

The growing adoption of smartphones and tablets along with the increasing penetration of high-speed Internet is expanding the market for digital music, as these devices are prominently used for streaming and downloading music.

Segmentation by type and analysis of the music market

  • Concert tickets
  • Digital music
  • Physical copies
  • Music publishing

During 2015, the concert tickets segment accounted for nearly 28% of the global music market. This segment is expected to grow during the forecast period due to the rising number of music bands and live performances during the forecast period. The rise in the number of talent shows and music schools are supporting the growth of artists and performers. Live performances by popular musicians and DJs at pubs and nightclubs are contributing toward the increased demand for such concert tickets.

Geographical segmentation and analysis of the music market

  • Americas
  • APAC
  • EMEA

During 2015, the Americas dominated the global music market, accounting for a market share of around 44%. One of the major reasons contributing to this share is the presence of numerous music-publishing houses, artists, bands, and a number of digital music service providers.

Competitive landscape and key vendors

The global music market has high growth prospects during the forecast period. The revenue growth is expected to be driven by an increase in the number of subscription services and concerts. The global music market is highly competitive because of the presence of a number of major players. Technological innovations by leading vendors play a significant role in driving market growth. The rising penetration of mobile devices such as smartphones and tablets and the availability of cheaper Internet services are enabling users to download music directly to such devices.

The leading vendors in the market are -

  • BMG
  • Kobalt Music
  • Sony/ATV Music
  • Universal Music
  • Warner Music

Other prominent vendors in the market include Apple, Aspiro, Curb Records, Deezer, Disney Music, Eventbrite, Fox Music, Gaana, Guvera, Imagem Music, Mix Radio, Pandora Radio, Saavn, SoundCloud, Spotify, StubHub, Thumbplay, Ticketmaster, and Wrensong Publishing.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global music market?
  • What are the key market trends impacting the growth of the music market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the vendors in the global music market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the music market?

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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