Music industry revenue reached 65.17 billion dollars in 2023. Even so, music industry revenue is not a large figure compared with other creative industries; for example, advertising and video game revenues are more than 10 times and 7 times the music industry, respectively.
Music is the most tangible experience people have of the cultural and creative industries, with a wide circle of audiences and followers. On this basis a large market is expected, but in reality the situation is different. Statista's report on the music industry in 2023 has presented key and interesting statistics on revenue, leading companies and publishers, popular artists, awards, and so on. By studying trends, this report takes a macro and data-driven look at the music industry.
Music industry revenue compared with other creative industries is not a large figure; for example, the advertising and video game industries' revenues are, respectively, more than 10 times and 7 times the music industry. Also, the music industry over the past decade has had little growth and, unlike other industries, has not had revenue jumps. Recorded music, with revenue of 31.2 billion dollars, is still the highest-earning segment of the music industry; Sony/ATV, which has been the largest publisher in the music market since 2012, was able in 2022 as well, with a 24.7 percent share, to repeat this title.
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Machine-translated from Persian by Namafar; the Persian original is authoritative. Read the original in Persian