Global Music Market 2017-2021
- Published: Feb 2017
- Pages: 67
- SKU: IRTNTR11851
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This industry research report identifies BMG Rights Management, Kobalt Music Group, Sony/ATV Music Publishing, Universal Music Group, and Warner Music Group as the key vendors among other players in the global music market. This industry research report also presents a competitive analysis of the market by revenue source (concert ticket, digital music, music publishing, and physical music copies) and by geography (the Americas, APAC, and EMEA).
Overview of the global music market
Market research analysts at Technavio predict that the global music market will grow steadily during the next four years and post a CAGR of almost 9% by 2021. This market research analysis identifies the growth in subscription services as one of the primary growth factors for this market. Owing to the integration of music streaming services with social media platforms, the subscription services segment is currently posting significant growth. The digital music service company Spotify recently integrated its application to the social media platform Facebook, which allows users to share their playlist with their social media friends. Since most of these subscription services follow the freemium business model aimed at migrating free users to premium paid services, this growing number of subscription services will aid publishing houses and artists increase their revenue, consequently fueling the growth of the music market.
The rise in adoption of mobile devices such as smartphones and tablets fueling the growth of the digital music, there will be an exponential increase in mobile ad spend in the coming years. Since digital music service providers offer most of the downloading and streaming services for free, they will increasingly adopt mobile advertising as a channel to increase their revenue, which will in turn, boost the growth of the music market.
Competitive landscape and key vendors
The market is characterized by the presence of numerous players is highly competitive and is dominated by the major music companies such as BMG Rights Management, Kobalt Music Group, Sony/ATV Music Publishing, Universal Music Group, and Warner Music Group. The leading market players with improved technological innovations will have a competitive advantage over the other market players and for the majority revenue shares. Pricing, the number of albums, streaming music library, and artists are some of the major factors vendors usually compete on.
The leading vendors in the market are -
- BMG Rights Management
- Kobalt Music Group
- Sony/ATV Music Publishing
- Universal Music Group
- Warner Music Group
The other prominent vendors in the market are Deezer, Gaana.com, Guvera, Pandora Radio, Saavn, SoundCloud, Spotify, Apple Music, Aspiro Group, Curb Records, Disney Music, Fox Music, Imagem Music, Wrensong Entertainment, Eventbrite, StubHub, and Ticketmaster.
Segmentation by revenue source and analysis of the music market
- Concert ticket
- Digital music
- Music publishing
- Physical music copies
During 2016, the concert ticket segment accounted for the major revenue shares and dominated this market. The increasing number of musical bands and live performances and the rise in preference among individuals to attend live concerts, will fuel the growth prospects of this market segment in the coming years. According to this market research report, the concert ticket segment will continue to dominate the market throughout the predicted period.
Geographical segmentation and analysis of the music market
This market study estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the forecast period. This is mainly due to the presence of a number of publishing houses, artists, bands, and digital music service providers in this region. Since the music market in North America is at a mature stage, music service providers will start targeting the untapped market in the South American countries such as Mexico and Brazil which will drive the growth of the market in the coming years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global music market?
- What are the key market trends impacting the growth of the global music market?
- What are the challenges to market growth?
- Who are the key vendors in the global music market?
- 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 global music market?
Technavio also offers customization on reports based on specific client requirement.
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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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