Coronavirus impact on global music revenue growth 2019-2020

It has been predicted that in a bear market, global music industry revenue growth for 2020 could be down by 34 percent from 2019 as a result of the coronavirus pandemic. Whilst the source noted that the mid case estimate is the most likely, the worst case scenario remains possible due to the impact of lockdowns on physical music sales and live events (which also negatively impacted merch sales and ad spend). In addition to this, with many consumers feeling uncertain at best or finding themselves unemployed at worst, spending on subscriptions will also be lower than usual. The best case scenario, or bull case, would see revenue growth change by just 28 percent, but in every case it is clear that the music industry will struggle as a result of the pandemic and will take time to recover.

Estimated impact of the coronavirus pandemic on music industry revenue growth worldwide between 2019 and 2020

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Source

Release date

June 2020

Region

Worldwide

Survey time period

2020

Special properties

revenue includes recorded music (retail values), music publishing, live, merchandise, and sponsorship

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Statistics on "Record labels in the U.S."

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