Traditional Music Market Consumption and Revenue Forecast by Regions 2028

Traditional Music Market Growth & Trends

The global traditional music market size is projected to reach USD 30.49 billion by 2028, registering a CAGR of 14.4% from 2022 to 2028 according to a new report by Grand View Research, Inc. The growing popularity and acceptance of listening to traditional music formats across the globe are accelerating market growth. Moreover, the increasing population of youth worldwide has resulted in younger revelers across the globe who are seeking live performance experiences propelling the market growth in the forecast period. Furthermore, the increasing demand for music concerts and festival events in emerging economies is expected to accelerate the market growth during the forecast period.

U.S. traditional music market size, by type, 2019 - 2028 (USD Billion)

Traditional Music Market Segmentation

Grand View Research has segmented the traditional music based on type, and region.

Based on the Type Insights, the market is segmented into Live Music Events and Tangible Recording Formats.

  • The live music events segment contributed to the largest market share of over 65% in 2021 and expected to expand at the fastest CAGR of 19.2% from 2022 to 2028. The growing trend of consumer and festival events across the globe is accelerating the market growth. Nowadays, the music industry has shifted towards live events owing to the growing appetite for physical events in emerging economies. Moreover, the increasing festivals events and organized series of concerts typically held annually in the same place has anticipated the market growth in the forecast period.
  • The tangible recording formats segment is expected to expand at a CAGR of -0.1% from 2022 to 2028. The increasing number of music listeners through physical recorded music across the globe is propelling the market growth. Moreover, the rising investment by the recording companies in artists and infrastructure development and networks globally are expected to boost the market growth in the forecast period. However, the growing adoption of paid subscriptions for streaming music across the globe may hinder the physical music format market over the last few years.

Browse through Grand View Research's  Electronic & Electrical Industry Research Reports.

  • Traditional TV & Home Video Market - The global traditional TV & home video market size was valued at USD 421.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.1% from 2022 to 2028.
  • Video Player Market - The global video player market size was valued at USD 458.60 million in 2021 and is expected to register a CAGR of -12.6% from 2022 to 2028.

Traditional Music Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Market Share Insights

  • November 2018: Sony Group Corp. completed the acquisition of Emi Music Publishing Limited. This strategic move was taken by Sony Group Corp. to gain the market share by rapidly purchasing the marketplace.

Key Companies Profile & Market Share Insights

The market is characterized by the presence of various established market players of traditional music across the globe. Companies are focusing on launching new functions to meet consumers’ expectations by offering a trending traditional music format.

Some of the prominent players operating in the global traditional music market include,

  • Sony Group Corp.
  • Emi Music Publishing Limited
  • Concord Music Group, Inc.
  • Universal Music Group, Inc.
  • Vivendi SE
  • Warner Music Group Corp.
  • Ace Ticket Worldwide Inc.
  • Alliance Tickets
  • Bassett Events
  • Brown Paper Tickets LLC
  • Eventbrite Inc.
  • RazorGator LLC
  • Ticketmaster Entertainment Inc.

Order a free sample PDF of the Traditional Music Market Intelligence Study, published by Grand View Research.

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