The revenue growth in the 'Digital Music' segment of the digital media market in the United Kingdom was forecast to continuously decrease between 2023 and 2028 by in total seven percentage points. According to this forecast in 2028, the indicator will have decreased for the fourth consecutive year to 2.83 percent.
Data provided by Statista Market Insights are estimates.
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.
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.
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. (November 22, 2023). Revenue growth of digital music in the UK 2019-2028 [Graph]. In Statista. Retrieved November 29, 2023, from https://www.statista.com/statistics/460752/digital-music-revenue-growth-digital-market-outlook-uk/
Statista. "Revenue growth of digital music in the UK 2019-2028." Chart. November 22, 2023. Statista. Accessed November 29, 2023. https://www.statista.com/statistics/460752/digital-music-revenue-growth-digital-market-outlook-uk/
Statista. (2023). Revenue growth of digital music in the UK 2019-2028. Statista. Statista Inc.. Accessed: November 29, 2023. https://www.statista.com/statistics/460752/digital-music-revenue-growth-digital-market-outlook-uk/
Statista. "Revenue Growth of Digital Music in The Uk 2019-2028." Statista, Statista Inc., 22 Nov 2023, https://www.statista.com/statistics/460752/digital-music-revenue-growth-digital-market-outlook-uk/
Statista, Revenue growth of digital music in the UK 2019-2028 Statista, https://www.statista.com/statistics/460752/digital-music-revenue-growth-digital-market-outlook-uk/ (last visited November 29, 2023)
Revenue growth of digital music in the UK 2019-2028 [Graph], Statista, November 22, 2023. [Online]. Available: https://www.statista.com/statistics/460752/digital-music-revenue-growth-digital-market-outlook-uk/