The global music market is anticipated to grow 10% in 2024 to reach $46bn. Most of this growth can be attributed to streaming, which despite starting to stabilise, continues to deliver growth in the recorded music market and is set to represent 85% of total consumer spend on music by the end of 2024. Streaming services globally are expected to count 807m subscribers by the end of 2024, generating a retail value of £39bn.
Futuresource Streaming Music Market
This report focuses on insights and analysis relating to the streaming music subscription market and competitive environment, in the context of the wider music market, highlighting key service developments, uptake and characteristics.
- Included alongside market sizing is a review of key industry trends, specifically looking at TikTok, Virtual Artists and AI.
- Subscriptions do not include free tiers unless otherwise stated.
- Detailed market data for the period 2020-2027 is also provided in an Excel datasheet.
- This report also complements Futuresource’s wider work in the audio sector, including its ongoing detailed tracking of the audio hardware markets and its annual Audio Tech Lifestyles
consumer survey.
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