The revenue in the 'Digital Music' segment of the digital media market in Hungary was forecast to continuously increase between 2024 and 2027 by in total 5.3 million U.S. dollars (+13.98 percent). After the tenth consecutive increasing year, the indicator is estimated to reach 43.15 million U.S. dollars and therefore a new peak in 2027. Notably, the revenue of the 'Digital Music' segment of the digital media market was continuously increasing over the past years.
Data provided by Statista Market Insights are estimates.
Definition:
Digital music refers to music that is stored, transmitted, and accessed in a digital format, typically through electronic devices such as computers, smartphones, tablets, and digital audio players. Digital music can be created, distributed, and consumed entirely in digital form, without the need for physical media such as CDs, vinyl records, or cassette tapes. Digital music can be in various file formats, such as MP3, AAC, FLAC, or WAV, and can be downloaded, streamed, or purchased online from digital music platforms, online stores, or streaming services. Digital music has revolutionized the way music is produced, distributed, and consumed, providing greater accessibility, convenience, and flexibility for music lovers around the world.
Structure:
The market consists out of music streaming, which is the streaming of music through apps on a subscription basis, music downloads, which is the download of music on a device, music streaming advertising and podcast advertising, which are the advertising spendings in each of the markets.
Additional Information:
The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through purchases and subscriptions. Market numbers for digital music can also be found in the advertising and media topic. Key players in the market are companies, such as Spotify, Apple or Amazon.
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Statista. (January 3, 2024). Forecast of the digital music market revenue in Hungary from 2017 to 2027 (in million U.S. dollars) [Graph]. In Statista. Retrieved December 06, 2024, from https://www.statista.com/forecasts/1337367/hungary-digital-music-market-revenue-forecast
Statista. "Forecast of the digital music market revenue in Hungary from 2017 to 2027 (in million U.S. dollars)." Chart. January 3, 2024. Statista. Accessed December 06, 2024. https://www.statista.com/forecasts/1337367/hungary-digital-music-market-revenue-forecast
Statista. (2024). Forecast of the digital music market revenue in Hungary from 2017 to 2027 (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 06, 2024. https://www.statista.com/forecasts/1337367/hungary-digital-music-market-revenue-forecast
Statista. "Forecast of The Digital Music Market Revenue in Hungary from 2017 to 2027 (in Million U.S. Dollars)." Statista, Statista Inc., 3 Jan 2024, https://www.statista.com/forecasts/1337367/hungary-digital-music-market-revenue-forecast
Statista, Forecast of the digital music market revenue in Hungary from 2017 to 2027 (in million U.S. dollars) Statista, https://www.statista.com/forecasts/1337367/hungary-digital-music-market-revenue-forecast (last visited December 06, 2024)
Forecast of the digital music market revenue in Hungary from 2017 to 2027 (in million U.S. dollars) [Graph], Statista, January 3, 2024. [Online]. Available: https://www.statista.com/forecasts/1337367/hungary-digital-music-market-revenue-forecast