Market Insights Advertising & Media Media Music, Radio & Podcasts

Traditional Music - Australia & Oceania

Australia & Oceania

In Australia & Oceania, the revenue in the Traditional Music market market is forecasted to reach US$1.21bn in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.53%, leading to a projected market volume of US$1.51bn by 2029.
Within the Traditional Music market market in Australia & Oceania, the number of listeners is projected to reach 10.9m users by 2029.
User penetration is set to be 27.5% in 2024 and is projected to decrease to 23.7% by 2029.
Notably, with a rate of 48.4%, in Luxembourg boasts the highest user penetration in the Traditional Music market market.
The average revenue per user (ARPU) is expected to be US$101.20.
When compared globally, the in the United States is poised to generate the most revenue (US$15,800.00m in 2024) in the Traditional Music market market.
Australia's growing interest in Indigenous traditional music is being amplified through various media platforms, showcasing rich cultural heritage.

Key regions: Japan, Asia, Europe, United States, China

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Music, Radio & Podcasts market, which comprises all revenues generated by traditional and digital radio advertising, consumer purchases of live music event tickets, all sales of tangible audio recording formats, paid digital downloads of professionally produced single tracks / compilations, ad-supported services, and subscription-based, on-demand streaming services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.