Music - New Zealand

New Zealand

The Music market in New Zealand is set to experience significant growth in the coming years.
According to projections, the total revenue in this market is expected to reach NZD US$20.05m by 2022.
This indicates a promising future for the Music market industry in the country.
Furthermore, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 8.73% from 2022 to 2027.
This steady growth trajectory is predicted to result in a market volume of NZD US$30.61m by 2027.
These figures highlight the potential for continuous expansion within the Music market in New Zealand.
When examining specific revenue sources within the Music market, it is projected that In-app purchases (IAP) will generate NZD US$5.84m in 2022.
Additionally, paid app revenue is expected to reach NZD US$0.41m in the same year.
Advertising revenue, on the other hand, is projected to amount to NZD US$13.80m by 2022.
These diverse revenue streams contribute to the overall growth and profitability of the Music market in New Zealand.
In terms of user engagement, the number of downloads in the Music market is estimated to reach 5.14m downloads in 2022.
This indicates a significant level of interest and demand for music-related content among consumers in New Zealand.
Moreover, the average revenue per download is currently expected to be NZD US$3.90.
This figure provides insight into the value generated from each individual download, highlighting the monetization potential within the Music market.
When comparing global markets, it is worth noting that in the United States generates the highest revenue in the Music market industry.
In 2022, in the United States is projected to generate a staggering US$4,481.00m.
This demonstrates the dominant position of the United States in the global music market.
Overall, the Music market in New Zealand is projected to experience steady growth in the coming years, with a positive outlook for revenue and market volume.
These projections indicate a promising future for the Music market industry in the country.

Key regions: Asia, Europe, United States, India, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, 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/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

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 case market dynamics change.