Global Music Market Trends And Growth Outlook 2026-2031 - Industry To Reach USD 54.09 Billion By 2031 As Streaming And Emerging Markets Drive Growth
Dublin, Sept. 01, 2026 (GLOBE NEWSWIRE) -- The "Music - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.
The global music market is estimated to reach USD 36.13 billion in 2026, up from USD 33.32 billion in 2025. The market is projected to expand at a compound annual growth rate of 8.42% from 2026 to 2031, reaching USD 54.09 billion by the end of the forecast period. Growth is being supported by music-streaming subscriptions, rising smartphone adoption, improved internet access, live entertainment, performance rights, licensing, merchandising, and the growing international reach of regional music genres.
Music-Streaming Subscriptions Strengthen Market Revenue
Streaming remains the primary revenue source for the global music industry, accounting for 67.95% of the market in 2025. Music platforms are increasingly focused on improving revenue per subscriber rather than relying exclusively on user acquisition. Premium features such as lossless audio, exclusive releases, virtual events, personalized recommendations, and bundled entertainment services are encouraging listeners to select higher-value subscription plans.
Spotify's USD 4.5 billion payout to independent labels and publishers in 2024 highlights the increasing flow of royalties through digital platforms. Streaming providers are also using audience analytics to improve artist discovery, advertising performance, and music promotion. Developed markets are emphasizing differentiated subscription pricing, while emerging markets are generating substantial listener growth through affordable mobile plans and integrated digital payments.
Smartphone Adoption Expands Music Access in Emerging Markets
Improved digital infrastructure across India, Indonesia, Brazil, and other high-growth economies is creating new mobile-first audiences. Affordable smartphones, lower data costs, regional-language catalogs, and convenient payment options are enabling consumers to access music without relying on physical retail channels.
India is emerging as an important growth market, supported by local-language content, short-form video integration, and mobile payment services. Although ad-supported listening continues to represent a significant share of consumption in developing economies, localized music can generate strong engagement and premium advertising opportunities. Direct artist-to-fan payments are also helping creators monetize their audiences while reducing dependence on traditional intermediaries.
Performance Rights, Licensing, and Merchandising Diversify Revenue
Performance rights are forecast to record one of the strongest growth rates among music revenue categories, advancing at a compound annual growth rate of 9.07%. This momentum reflects the recovery of live entertainment and rising demand for licensed background music across retail stores, hospitality venues, events, and other commercial environments.
Merchandising and licensing generated USD 5.09 billion in 2024, representing year-over-year growth of 16.4%. Approximately 19% of concert attendees purchased merchandise, demonstrating continued demand for artist-branded products and event memorabilia. Music platforms are responding by integrating streaming, ticketing, livestreaming, and merchandise fulfillment into unified digital experiences. This approach can increase customer lifetime value and reduce reliance on subscription revenue alone.
Synchronization revenue is also expanding alongside film, television, gaming, advertising, and digital media production. Meanwhile, digital downloads continue to decline, while vinyl records retain premium appeal among collectors and dedicated fan communities.
Pop Leads While Latin Music Records Strong Growth
Pop held a 27.65% share of the global music market in 2025. Latin music, however, is expected to achieve the fastest genre growth, with a projected compound annual growth rate of 8.70% through 2031. Cross-border artist collaborations and the popularity of Latin music on social media and short-form video platforms are helping the genre reach wider international audiences.
Hip-hop and rap continue to generate substantial streaming volumes, while electronic and dance music benefit from festivals and immersive audiovisual performances. Rock is experiencing renewed touring demand and continued interest in premium vinyl editions. K-pop and regional Mexican music also demonstrate how algorithmic recommendations can elevate local content onto global charts. Classical and jazz remain smaller segments but benefit from loyal audiences, higher spending per listener, and synchronization opportunities in premium advertising and entertainment.
Digital Piracy Remains a Significant Market Restraint
Copyright infringement and digital piracy continue to limit music market revenue. The Recording Industry Association of America estimated that illicit consumption caused USD 12.5 billion in U.S. revenue losses during 2024. Stream-ripping services, unauthorized uploads, and peer-to-peer distribution channels remain difficult to control, particularly in markets with limited enforcement.
Rights holders are investing in legal action, digital watermarking, automated content identification, and licensing systems. However, these measures can redirect resources away from artist development and market expansion. Other industry pressures include the increasing bargaining power of leading creators, rising royalty expenses, and the need to establish clear ownership and compensation rules for artificial intelligence-generated music.
North America Retains Leadership as Asia-Pacific Accelerates
North America accounted for 34.21% of the global music market in 2025, supported by mature subscription adoption, higher consumer spending, advanced rights-management systems, and a well-established live entertainment sector. The United States remains a center for immersive audio technology and artificial intelligence-powered music recommendations, while Canada continues to support domestic artist development and international exports.
Asia-Pacific is projected to be the fastest-growing regional market, expanding at a compound annual growth rate of 9.02% through 2031. Growth is being led by China, India, Japan, and South Korea. Local catalogs, entertainment bundles, digital payments, and short-form video services are strengthening music consumption throughout the region.
Europe continues to influence digital platform standards through consumer protection and online content regulations. Latin America benefits from the global popularity of reggaeton and other regional genres, although currency volatility can complicate royalty payments. The Middle East and Africa are recording rapid audience growth, but monetization remains constrained by ad-supported consumption and limited payment infrastructure. Continued investment in digital access, cross-border licensing, and regional payment systems is expected to unlock additional global music market revenue through 2031.
Key Topics Covered
1 INTRODUCTION
1.1 Market Definition and Scope
1.2 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET LANDSCAPE
4.1 Market Overview
4.2 Market Drivers
4.2.1 Accelerated adoption of music-streaming subscriptions
4.2.2 Rising smartphone and internet penetration in emerging markets
4.2.3 Growth of social media and short-form video platforms fuelling music discovery
4.2.4 Strong investment and catalog acquisitions by record labels and private equity
4.2.5 Proliferation of immersive audio formats (Dolby Atmos, Sony 360RA) boosting ARPU
4.2.6 Blockchain-enabled direct-to-fan monetization models (NFTs, fractional ownership)
4.3 Market Restraints
4.3.1 Persistent copyright infringement and digital piracy
4.3.2 Growing bargaining power of top creators driving royalty costs
4.3.3 Fragmentation of licensing regimes in emerging markets delaying service launches
4.3.4 Rising carbon scrutiny of data-center energy use for streaming
4.4 Regulatory Landscape
4.5 Technological Outlook
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Industry Stakeholder Analysis
4.8 Impact of Macroeconomic Factors on the Market
5 MARKET SIZE AND GROWTH FORECASTS (VALUE)
5.1 By Revenue Generation Format
5.1.1 Streaming
5.1.2 Digital Downloads (ex-Streaming)
5.1.3 Physical Products
5.1.4 Performance Rights
5.1.5 Synchronization Revenues
5.1.6 Merchandising and Licensing
5.2 By Genre
5.2.1 Pop
5.2.2 Rock
5.2.3 Hip-Hop / Rap
5.2.4 Electronic / Dance
5.2.5 Classical
5.2.6 Jazz
5.2.7 Country
5.2.8 Latin
5.3 By Distribution Channel
5.3.1 Online Platforms
5.3.2 Offline / Brick-and-Mortar Retail
5.4 By End User
5.4.1 Individual Consumers
5.4.2 Commercial Establishments (bars, hotels, retail)
5.4.3 Media and Entertainment Producers (film, TV, gaming)
5.4.4 Brands and Advertisers
5.4.5 Event and Concert Organizers
5.5 By Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.2 South America
5.5.2.1 Brazil
5.5.2.2 Argentina
5.5.2.3 Rest of South America
5.5.3 Europe
5.5.3.1 Germany
5.5.3.2 United Kingdom
5.5.3.3 France
5.5.3.4 Spain
5.5.3.5 Italy
5.5.3.6 Russia
5.5.3.7 Rest of Europe
5.5.4 Asia Pacific
5.5.4.1 China
5.5.4.2 Japan
5.5.4.3 India
5.5.4.4 South Korea
5.5.4.5 Australia and New Zealand
5.5.4.6 Rest of Asia Pacific
5.5.5 Middle East and Africa
5.5.5.1 Middle East
5.5.5.1.1 United Arab Emirates
5.5.5.1.2 Saudi Arabia
5.5.5.1.3 Turkey
5.5.5.1.4 Rest of Middle East
5.5.5.2 Africa
5.5.5.2.1 South Africa
5.5.5.2.2 Egypt
5.5.5.2.3 Rest of Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration
6.2 Strategic Moves
6.3 Market Share Analysis
6.4 Company Profiles (includes Global-level Overview, Market-level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for Key Companies, Products and Services, and Recent Developments)
6.4.1 Universal Music Group N.V.
6.4.2 Sony Music Entertainment (Sony Corporation of America)
6.4.3 Warner Music Group Corp.
6.4.4 BMG Rights Management GmbH
6.4.5 Kobalt Music Group Ltd.
6.4.6 Spotify Technology S.A.
6.4.7 Apple Inc. (Apple Music)
6.4.8 Amazon.com, Inc. (Amazon Music)
6.4.9 Alphabet Inc. (YouTube Music)
6.4.10 Tencent Music Entertainment Group
6.4.11 Deezer S.A.
6.4.12 Tidal Music AS
6.4.13 SoundCloud Global Limited and Co. KG
6.4.14 Pandora Media, LLC (Sirius XM Holdings Inc.)
6.4.15 NetEase Cloud Music (NetEase, Inc.)
6.4.16 Anghami Inc.
6.4.17 Melon Company (Kakao Entertainment)
6.4.18 Yandex Music LLC
6.4.19 Boomplay Music Group Limited
6.4.20 JioSaavn LLC
6.4.21 KKBOX Inc.
6.4.22 Curb Records, Inc.
6.4.23 Believe S.A.
6.4.24 CD Baby, Inc.
7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK
7.1 White-space and Unmet-Need Assessment
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