Audio

Including market segments such as live music, digital music as well as podcasts and radio, the audio industry sector has undergone major developments over the last couple of years. The market for music downloads has consistently decreased over the last years reaching a market share of only three percent in 2022, compared to the 84 percent market share of music streaming and 11 percent of physical music. The increasing importance of streaming and digital consumption of audio content is estimated to continue while the role of downloads is predicted to steadily decrease. Overall, the audio market's diversity is likely to deepen following the progressing changes in the way music and audio content is consumed.

Market size

Digital music consumption is growing

Digital music revenue in selected countries worldwide in 2023 (in million U.S. dollars)

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Further details: Visit original statistic Digital music revenue in selected countries worldwide in 2023 (in million U.S. dollars)

Digital music consumption is becoming increasingly important for the audio market as the revenue driver. The streaming market in the United States is still growing, generating its highest revenue in 2022 at 13.3 billion U.S. dollars. The music streaming segment made up a share of 84 percent among all the market's total music revenues. While the physical sale of music has declined over the years, this number has slowly stabilized.

Brand Power music streaming apps U.S. 2022
Digital Market Outlook: digital music revenue country comparison 2022
U.S. music streaming revenue U.S. music streaming revenue U.S. music streaming revenue 2022

Market segments

Streaming is becoming the new normal

Growth in music streaming revenue worldwide from 2013 to 2022

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Further details: Visit original statistic Growth in music streaming revenue worldwide from 2013 to 2022

Music consumption has significantly changed due to streaming services. In 2022, music streaming made up a share of 84 percent among music revenues. These figures are set to grow further. On the other hand, music downloads revenue shows a downhill trend, with the number of music album downloads dropping to 23.9 million downloads in 2022.

Digital Music - Revenue worldwide
Digital Music - Users worldwide
Online revenue for Music Events worldwide

Industry trends

Live music is growing again

Live music industry revenue worldwide from 2014 to 2025 (in billion U.S. dollars)

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Further details: Visit original statistic Live music industry revenue worldwide from 2014 to 2025 (in billion U.S. dollars)

Live music is growing: with concerts being back after the pandemic-related cancellations of 2020, virtual live music events are becoming less popular, with a share of 27 people having attended one in 2022 in the U.S. Before the events of 2020, live music industry had been steadily growing and is predicted to continue on this path, closing in on 31 billion dollars by 2024.

The most successful music tours in North America in 2022
Highest grossing music tour each year in North America 2000-2022
Live Nation Entertainment's concert revenue from 2008 to 2022

Industry leaders

Where do people listen to audio content?

Share of music streaming subscribers worldwide in the 3rd quarter of 2023, by company

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Further details: Visit original statistic Share of music streaming subscribers worldwide in the 3rd quarter of 2023, by company

With more of the audio entertainment moving online, industry leaders have developed through content distribution. In 2019, Spotify was the most popular music streaming platform among younger consumers with 48 percent of 18 to 34 year-olds using the service. The Swedish streaming giant now outranks Apple Music and other competitors while YouTube is popular among older generations. Spotify demonstrated the company’s market dominance by reaching 295 million active subscribers in 2022.

Spotify MAUs worldwide
Spotify: quarterly revenue worldwide
Brand Power music streaming apps U.S. 2022

State of the industry

  • Music streaming worldwide
  • Digital music in the U.S. (DMO)
  • Radio in the U.S.
  • Music industry in the United Kingdom (UK)
  • Radio and digital audio in Europe
  • Spotify
  • Live music in the U.S.
  • Digital music in the U.S.

Industry Definition

The audio category presents wide-ranging data on global audio entertainment. It covers all aspects of the music industry, including key financial figures on leading record labels, the concert business, music awards, and global music industry revenue.

Within this sector, Statista offers sales figures for physical music and highlights trends in the digital music market via data on streaming revenues, music downloads, and the most popular streaming services worldwide. Insights into listening behavior and global audience preferences are further complemented with statistics on radio stations and use, podcast consumption, and overall listening times.

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