Press release
Music Recording Market Growth, Size, Share And Analysis 2024-2033
Music Recording Market
The Business Research Company offers in-depth market insights through Music Recording Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The music recording market size has grown strongly in recent years. It will grow from $55.44 billion in 2023 to $59.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to distribution platforms, music industry business models, artist promotion and marketing, copyright and intellectual property laws, cultural and genre trends.
The music recording market size is expected to see strong growth in the next few years. It will grow to $78.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to streaming dominance, emergence of niche markets, virtual and augmented reality experiences, blockchain and decentralized distribution, direct-to-fan engagement. Major trends in the forecast period include collaborations with other industries, ai and music creation, technology evolution, focus on high-resolution audio, emergence of virtual concert.
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Market Segmentation:
The music recording market covered in this report is segmented -
1) By Type: Record Production, Music Publishers, Record Distribution, Sound Recording Studios
2) By Application: Mechanical, Performance, Synchronization, Digital, Other Applications
3) By End-User: Individual, Commercial
4) By Genre: Rock, Hip hop, Pop, Jazz, Other Genres
Major Driver - Mobile Music Revolution: Driving Growth In The Music Recordings Market
Access to music on mobile platforms has increased significantly in recent years and this trend is such asly to continue in the forecast period, thus driving the music recordings market. This is mainly driven by the rise in internet penetration and growth in smartphones and tablets, especially in emerging countries. In 2021, there was an 65% increase in music streaming accounts. Thus, a rise in the demand for music content through mobile platforms is expected to have a positive effect on the market during the forecast period.
Competitive Landscape:
Major companies operating in the music recording market report are Sony Corp., Capitol Studios, Financière de l'Odet, Bertelsmann SE & Co KGaA, Universal Music Group, Warner Music, Hasbro Inc., Quad Studios, EMI Records Ltd., EastWest Studios, BMG Rights Management GmbH, GMM Grammy Public Company Limited, Abbey Road Studios, Metropolis Studios, Henson Recording Studios, Avex Inc., FUJI MEDIA HOLDINGS INC., PolyGram N.V., Emperor Entertainment Group, Pathé Records, Electric Lady Studios, Blackbird Studio, Sunset Sound Recorders, Ocean Way Recording, United Recording Studios, Record Plant, Associated Independent Recording, Real World Studios, Sonic Ranch, Studios 301, The Village Studios, Epic Records, Virgin Records, Avatar Studios (Power Station), RAK Studios
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Top Trend - Pitch-Perfect Perfection The Role Of Auto-Tune Applications In Music Recording Market
Many music recording companies are offering to auto-tune applications to allow singers to exaggerate vocals and create a new pitch-perfect sound. Auto-Tune is an audio processing software used to measure and alter pitch in vocal and instrumental music recordings and performances. It is used to tweak small inaccuracies when singers sing out of tune and to retain the emotional content of the performance. For instance, major music recording studios offering to auto-tune software are Abbey Road Studios, London and Capitol Studios, Los Angeles to tune vocal recordings, add special effects and natural sound allowing the singer to sound pitch-perfect.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Music Recording Market Characteristics
3. Music Recording Market Trends And Strategies
4. Music Recording Market - Macro Economic Scenario
5. Music Recording Market Size And Growth
…..
27. Music Recording Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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