In the rapidly evolving digital landscape, the music industry has experienced seismic shifts that have sculpted a new market reality. With streaming services such as Spotify, Pandora, and Apple Music gaining ground, our interest in music market size statistics has become more crucial than ever. For artists, producers, record labels, and industry enthusiasts alike, understanding the scope, trends, and dynamics of the music market can guide strategic decisions and provide insightful outlooks. In this blog post, we aim to echo the rhythm of the music industry by grooving along to the beat of the latest market size statistics. Let’s track the tempo of change and listen to the symphony of figures that will really tune us into the current and future states of the music industry.

The Latest Music Market Size Statistics Unveiled

The global music market was worth $62.1 billion in 2020, growing from $57 billion in 2019. Source: IFPI,

Peeling back the layers of the global music market reveals an ocean of opportunities, as these figures from IFPI show. The leap from $57 billion in 2019 to $62.1 billion in 2020, a growth of nearly 9%, suggests a dynamic and thriving industry. Just as a conductor guides an orchestra, these statistics offer valuable insight guiding readers to understanding the sheer impact and potential the music industry possesses. This growth is not just confined to labels and artists, but stretches to sectors such as live events, merchandise, and streaming, painting a picture of an industry rhythmically keeping pace with innovation and consumer demand. It’s this crescendo in the global music market’s value that underscores the industry’s continuous evolution and potency. Truly, the music market is hitting all the right notes, and for industry insiders, musicians, investors, and the curious reader, this statistic resonates deeply.

The music market in the United States had a value of $12.2 billion in 2020. Source: RIAA,

Delving into a lively, harmonious world such as music, the flamboyant figure of $12.2 billion has its own tempo and melody. It’s the pricetag of the US music market in a grand symphony called ‘year 2020’, authored by none other than RIAA. It’s a critical note in our blog post opus as it reveals not just the market’s financial magnitude during a year of global tumult, but also the endurance of the music industry amid times of crisis. This economic crescendo is instrumental in comprehending trends and forecasts across the globe. It resonates with passion for music and its inextricable links to business, culture, and technology trends, serving as a powerful tune in our statistical ensemble about music market size.

Recorded music revenues in Japan were approximately $3 billion in 2020. Source: RIAJ,

The impressive figure of approximately $3 billion, as reported by the RIAJ, provides a melodious tone to the symphony of the global music market. Resounding from Japan, one of the world’s largest economies, this statistic sings a loud and clear number, echoing the immense magnitude and dynamism of the music industry. Adding substance to a blog post on music market size statistics, this striking number amplifies the significance of not just the American or European markets, but also highlights the pivotal role the Asian players like Japan are orchestrating in this global ensemble. Grabbing attention like a perfectly hit high note, this statistic harmonizes the narrative of the blog by adding an extra layer of depth, showing that the global music market isn’t just a one-hit wonder, but rather a chart-topping sensation that continues to grow and thrive in different parts of the world.

The streaming music market was valued at $24.7 billion in 2020 and is projected to reach $76.9 billion by 2027. Source: Statista,

Perched at the pulse of the rapidly evolving music industry is the seismic shift toward music streaming, which in 2020 commanded a whopping value of $24.7 billion. A glimpse into Statista’s crystal ball indicates an even brighter future, projecting a skyrocketing worth of $76.9 billion by 2027 for this market.

This potent transformation illuminates the magnitude of significance streaming platforms have seized in reshaping the soundtrack of our lives. So whether you’re a stakeholder in the music industry or a passionate audiophile, understanding these music market size statistics recalibrate the perspective on the vibrant backdrop of the industry’s trajectory.

A turbo-charged growth of more than 300% is projected within a span of only seven years. Grasping this statistic not only underscores the accelerating preference for streaming music but also propels a sense of urgency for industry players to surf this gigantic wave, or risk drowning in its wake. These numbers also remind us of the immense untapped potential that is still waiting to be claimed, thus framing the blog post’s narrative within a fascinating story about growth, transformation, and the tangible impact of technological advancements on our auditory experiences.

Physical format sales only made up 7.2% of the total global music market in 2020. Source: IFPI,

Interpreting this captivating statistic, one can grasp a clear image of the drastic shift in the music industry’s landscape in recent years. The mere 7.2% of total global music market sales attributed to physical format in 2020, as reported by the IFPI, serves as a vibrant testament to how modern listeners consume music. No longer confined to tangible commodities like CDs or vinyl records, the majority of music consumers now navigate through the rich sonic landscape via an ever-growing ecosystem of digital platforms. The statistic thus underlines the prevailing dominance of digital music consumption, which is a pivotal trend any music market analysis should consider.

In the UK, recorded music revenue was at $1.4 billion in 2019. Source: BPI,

Harnessing the power of data, one can ascertain the astonishing economic magnitude of the music industry in the UK. A towering testament to this is the staggering figure of $1.4 billion in recorded music revenue in 2019, as revealed by the BPI. These numbers eloquently sing the tale of the thriving vitality of the UK’s music market, providing valuable insights for both industry analysts and music enthusiasts. Such figures set the context for understanding the profitable dynamic existing within this creative arena and demonstrate its immense contribution to the UK’s financial architecture. Weaving through these financial notes lets you comprehend the symphony that is the UK’s music market size, not just a single riff but an entire orchestration of economic activity.

In 2020, China’s music market was worth nearly $1.6 billion. Source: Music Business Worldwide,

Highlighting the impressive statistic about the 2020 value of China’s music market offers multiple layers of insight for our readers in the music industry sphere. With a market worth close to $1.6 billion, it supports the narrative of the music industry’s continuing expansion, resilience, and profitability even in uncertain economic times. This data point, drawn from Music Business Worldwide, underscores China’s noteworthy position in the global music marketplace, potentially shaping business strategies, investments, and marketing decisions for those aiming to penetrate or expand within this market. As such, the mentioned feisty dollar figure not only amplifies the significant role of China in the music market but also presents a vibrant picture of the financial potential the industry holds on a global level.

Latin America was the fastest growing regional music market with 15.9% growth in 2020, contributing to $0.78 billion. Source: IFPI,

Spotlighting the melody of change, the crescendo in Latin America’s music market with a growth rate of 15.9% in 2020 weaves an essential narrative within the broader symphony of global music industry trends. As this flourishing market hit a high note contributing to $0.78 billion, it cues our attention towards emerging landscapes within the music sector. Harmonising with an insightful blog post on music market size statistics, this development offers a tuneful testament to the shifting dynamics and the potential new epicenters in the global music ecology. Diving into the rhythm of this data further may unpack a trove of understanding about factors orchestrating this regional growth, providing both industry mavens and enthusiasts a chance to tune into changes in consumer behavior, digital platforms’ influence, and the resilience of the music industry in the face of global challenges. As such, this stat hits the right chords in setting the stage for a rich discussion on the ever-evolving world of music markets. Source: IFPI.

In Germany, the music industry had approximately $1.8 billion in sales revenue in 2020. Source: BVMI,

This illuminating statistic underlines the German music industry’s robust stream of revenue, proving it’s far from playing second fiddle in shaping the global music market. Clocking an impressive $1.8 billion sales revenue in 2020 according to BVMI, it’s clear to see Germany strums a chord of remarkable market potential. For those writing the score on global music market trends, this noteworthy figure adds a striking note to the melody, symbolizing Germany’s influential role in stoking the fires of the larger music industry.

The music industry in Australia saw a 7.3% increase in total revenue in 2020, amounting to $499 million. Source: ARIA,

This intriguing statistic serves as a direct amplifier to the narrative of the strength of the Australian music industry, highlighting its capability to thrive even amidst challenging global circumstances. Anchored in the evidence from ARIA, the revelation of a 7.3% surge in total revenue throughout 2020 effectively paints the musical landscape of Australia as a resilient and growth-oriented sector. Attaining the impressive benchmark of $499 million not only emphasises the industry’s financial magnitude, but it also provides a gauge for future predictions and strategic planning for businesses venturing into this melody-infused marketplace.

The Indian music industry was worth around $181 million in 2020. Source: Deloitte,

Highlighting the substantial net worth of the Indian music industry, quoted at approximately $181 million in 2020 according to the reputable source Deloitte, provides valuable insights in a blog post focusing on music market size statistics. It sets the playing field by conveying the immense value pegged to this particular segment of the world’s music industry. Additionally, it helps in contextualising the relative strength, potential and diversity of the global music market by illuminating a non-western segment’s contribution. Indeed, spotlighting such a hefty billion-dollar valuation prompts a deeper look into market trends, industry drivers, and potential opportunities that the Indian music market has to offer. This monetary figure anchors a firm understanding of the massive scale and rich potential of global music markets, harnessing a broader comprehension of the industry’s dynamics and corridors of growth.

South Korea’s music market was worth nearly $494 million in 2020. Source: IFPI,

Highlighting the value of South Korea’s music market, estimated at an astounding $494 million in 2020, illustrates the massive potential this Asian economy boasts in terms of music commerce. Coupled with the global popularity surge of K-Pop, this figure underscores how influential South Korea has become in the global music landscape. From a strategic perspective, these figures, detailed by IFPI, offer substantial insights for investment opportunities or market entry points for musicians, producers, and associated entities seeking to penetrate and profit from this booming segment of the global music market.

The global digital music market is expected to reach $23.7 billion by 2026. Source: IBISWorld,

In the pulsating rhythm of the global music industry, the projected crescendo to a whopping $23.7 billion for the digital music market by 2026, as projected by the renowned IBISWorld, is a noteworthy high note. This figure, placed within the grand orchestration of a blog post about music market size statistics, echoes the growing importance of digitization in this sector.

In the big concert of the world’s music industry, this significant projected increase encapsulates the trend towards online streaming services replacing traditional physical album sales. It serves as the bassline, underpinning the entire narrative about how the music industry’s complexion is being dramatically changed by technological advancements. It’s like a chart-topping hit that concisely delivers the powerful message of projected growth in digital music, urging readers to tune into the future of music consumption.

The crescendo to a $23.7 billion market by 2026 strikes a significant chord, helping the blog post readers understand the symphony of changes occurring in the music industry, thereby highlighting the rising tempo of digital market growth and ultimately, it encapsulates the promise of a profitable future crescendo.

In 2020, France’s music market saw a decrease of 4.5%, with total sales recorded at $813 million. Source: SNEP,

Diving deep into the rhythm of market trends reflected in the 2020 statistics of France’s music market, one can discern a slight discordance. It isn’t a crescendo that one might expect, but rather a decrescendo with a decrease of 4.5% in total sales, which reached only $813 million according to SNEP. This offbeat tempo sends out reverberations that echo implications far and wide. Drawing this into the soundscape of a blog post about music market size statistics paints a more holistic picture, allowing readers to tune into global market fluctuations and understand the perpetually changing beat of the music industry. These figures, while appearing solemn, serve as valuable counterpoints for anyone interested in the melody and minor notes of the music market, and are instrumental in setting the right tone for further discussion.

The music market in Africa and the Middle East was worth $100 million in 2020. Source: IFPI,

Draping the backdrop for the sprawling expanse of the music market scene, the striking $100 million worth of the combined music industry in Africa and the Middle East in 2020 provides an undeniable testament to the thriving vigor of these regions’ musical landscape. Sourced from the trusted International Federation of the Phonographic Industry (IFPI), this figure tells an eloquent tale of the potential hidden in the crests and troughs of these untapped markets. It unfurls a rich tapestry of musical tastes and trends that are shaping the markets, a tapestry that brims with opportunities ripe for the taking, for those astute enough to comprehend. In the grand orchestra of a blog post discussing music market size statistics, this $100 million figure plays a crucial crescendo, emphasizing the strength and vibrancy of the constantly evolving music industry. This crescendo cannot be ignored but indulged, amplifying the story of the industry’s undying pulse and growth potential on a global stage.

Canada’s music market saw a 9.5% increase and was worth $673 million in 2020. Source: Music Canada,

Picturing the music market as an ever-evolving symphony, this note of Canada’s music market swelling by 9.5% to an impressive tone of $673 million in 2020 carries a weighty significance. This crescendo sourced from Music Canada becomes a key highlight, painting an auspicious image of the music industry’s growth in the great white north. When threading together the story of global music market size, this numerical melody creates a vibrant melody in the broader composition, showcasing rising trends and potential future opportunities.

Italy’s total music revenues reached $350 million in 2020. Source: FIMI,

In the realm of music market size statistics, the revelation of Italy’s impressive total music revenues in 2020—totalling a substantial $350 million according to FIMI—provides a striking testament to the industry’s vitality in the Mediterranean nation. This insight not only underlines Italy’s standing as a strong player in the global music market, but also sheds light on potential growth prospects and investment opportunities within the Italian music landscape. The buoyancy of Italy’s music revenues could serve as a catalyst for international collaboration, and spark discussions on trend analysis and future predictions, shaping strategies and decisions in the global music industry. In the grand tapestry of music market size statistics, this piece of data is one vibrant thread contributing to the wider understanding of the industry’s economic trajectory.

The revenue of the music market in Spain was approximately $296 million in 2020. Source: PROMUSICAE,

The intriguing revelation of the Spanish music market pulling in a whopping $296 million in revenue as per PROMUSICAE, forms the cornerstone within the broader conversation on music market size statistics. It’s a compelling snapshot that captures the economic might of the music industry within the boundaries of Spain, providing readers with a clear picture of the financial status quo. This solid figure essentially puts things into perspective by emphasizing the monetary value and potential of the music industry. As such, it acts as an eye-opener for investors, industry players and even music enthusiasts, underlining the significant revenue stream that the music market in Spain encompasses. This is a data point that shouldn’t just be overlooked as a number, but rather a testament to a thriving industry in 2020, despite the challenges posed by the global pandemic.

The global background music market is expected to reach $1.65 billion by 2022. Source: PR Newswire,

The earth-shattering growth projected for the global background music market is akin to a symphony reaching its crescendo. By 2022, the harmonious notes of this industry are set to dance to the tune of $1.65 billion, according to PR Newswire. A stratospheric sum, hinting at soaring opportunities and vast potential for industry stakeholders. This figure serves as a pivotal reference in our exploration of music market size statistics, indicating the strength of this oft-underrated sector. Bright prospects and flourishing growth paint a vibrant picture of the future of the background music market. This observation is integral for understanding not just this industry’s current standing, but also its future trajectory, complexity, and dynamism.

The revenue volume of the recorded music market in Sweden amounted to roughly $204 million in 2020. Source: IFPI Sweden,

Highlighting the $204 million revenue volume of the recorded music market in Sweden for 2020 provides a valuable snapshot into the pulse of the global music ecosystem. This six-figure sum doesn’t only represent a monetary value but also reflects the prosperous pulse and rhythms of Swedish sonic products. Nestled within this data, sourced from the International Federation of the Phonographic Industry (IFPI) Sweden, is a narrative of commercial success, cultural popularity, and industry robustness.

It allows readers, researchers, and industry insiders to gauge the health and wealth of Sweden’s music market. Moreover, it acts as a yardstick against which other nations’ markets can compare and analyze their performance. It also offers potential investors or industry players critical insights into the possible returns to be expected within the sector.

Ultimately, this statistic sings a tale of Sweden’s significant contribution to the global music scene, providing a tangible tune to the melody of the music market’s size statistics.


In sum, the insights and statistics about the music market size we’ve explored substantiate the notion that music industry is a dynamic and vibrant sector with high growth potential. Across different geographical areas and types of music, the impact of digital technology on how music is created, distributed and consumed is highly transformative and impressive. With steadfast industry trends and ongoing market changes, we anticipate a continual expansion of the music arena. Stay tuned to observe how these figures evolve and new opportunities emerge in the grand symphony of the music market.


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