Business Music Statistics 2024 – Everything You Need to Know

Business Music Statistics 2023: Facts about Business Music outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Business Music, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

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On this page, you’ll learn about the following:

Top Business Music Statistics 2023

Top Business Music Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 75 Business Music Statistics on this page 🙂

Business Music “Latest” Statistics

2017 had music sales of $2.6 billion. While the worldwide music business is 54% digital, the majority of recording income in japan is still produced by the sales of physical formats.^[1]
The three primary subindustries of live recording, publishing, and streaming are anticipated to create 7 billion in total income for the music business.^[1]
Even though there are many choices for lawfully streaming music today, music piracy is still a danger to the business, according to a 2018 MUSO research.^[2]
However, at 40.6%, these businesses had a decent representation of women in executive positions.^[2]
There is a possibility that the streaming business is less competitive than people in the industry would want given that 80% of UK customers depend on streaming services to listen to music.^[2]
Apple Music accounts for 6.4% of the company’s entire income, making Spotify Apple’s services business the division with the quickest growth.^[3]
The US sector rose by 7.5% over that period, increasing its sales from 7.4 billion in 2019 to 8 billion in 2020. The U.S. recorded music business expanded by 22.6% alone in 2021.^[4]
However, with a 35% growth rate, the middle east and north Africa will be the fastest-growing area for the world’s recorded music business in 2021.^[4]
The U.S. recorded music business generated $8 billion in sales in 2020, a 7.5% rise over its $8 billion in revenue in 2019.^[4]
65% of the 25.9 billion dollars in the income generated by the world’s recorded music business in 2021 came from streaming, including both paid and free subscriptions.^[4]
In all, this collection of artists how much of the music business’s income is generated via streaming provides the music business with 65% of its income.^[4]
However, with a 35% growth rate, the Middle East and North Africa will be the fastest-growing area for the world’s recorded music business in 2021.^[4]

Business Music “Job” Statistics

Based on the State of the Nation Music Education 2017, the number of full-time jobs in the music sector increased by 3%.^[2]

Business Music “Line” Statistics

Although it is free to listen to music on streaming services, 46% of stream rippers download the songs so they may listen to them offline.^[2]
The age group of 16 to 24 years old had the highest participation rate in online music piracy, with 55% of those in this group utilizing illicit means to download songs.^[4]
Another widespread practice was illegal music downloading, with approximately 20% of internet users engaging in it. The age group of 16 to 24 years old had the highest participation rate in online music piracy, with 55% of those in this group utilizing illicit means to download songs.^[4]

Business Music “Music” Statistics

This gain was driven by digital sales, which saw a 14.1% increase in sales of digital albums and a 51% increase in sales of digital tracks, while physical music sales fell by 12.8% to 2011.^[5]
Universal music group generated 40% of the global sales of classical music in the year before, according to Seagram’s June 2000 annual report filed with the U.S. Securities and Exchange Commission.^[5]
The RIAA announced a 5% rise in sales over 2010 in mid-2011 but said that there was probably no one factor to blame. According to the Nielsen Company Billboards 2012 industry report, music sales have climbed overall by 3.1% from 2011.^[5]
According to the Nielsen and Billboard analysis, 50.3% of music sales in 2011 were digital.^[5]
According to SoundExchange, subscription-based streaming music with adverts increased 29% to 24 billion.^[5]
According to 19 statistics, the U.S. music industry’s total income fell by half from a peak of 14.6 billion in 1999 to 6.3 billion in 2009.^[5]
The RIAA survey done in 2016 found that streaming platforms are the most popular method to listen to music in Japan. Youtube was the primary source of music discovery and consumption for 42.7% of those surveyed.^[1]
Based on the aforementioned RIAJ research, which found that fewer than 10% of respondents utilized radio, including digital broadcasts, as a source of music, radio in Japan is shifting its emphasis away from music broadcasts and toward conversation formats.^[1]
New releases by their favorite musicians, according to 68% of 16 to 19-year-olds, helped them get through this difficult period.^[2]
73% also said that despite the pandemic’s impact on daily life, individuals may still listen to music when necessary.^[2]
When COVID-19 hit, 87% of people said that music provided them with the pleasure and fulfilment they were seeking.^[2]
According to a 2019 estimate by the verge, streaming accounts for 80% of the music industry’s earnings.^[2]
Spotify is the most popular music streaming service, with over 350 million users and 150 million subscriptions, according to the Business of Apps.^[2]
23% of interaction, according to the study, comes from paid music streaming services like Spotify and Apple music.^[2]
From 2021 to 2031, the employment of musicians and singers is anticipated to increase by 4%, nearly as fast as the national average for all professions.^[6]
Since 2014, it has expanded at an average pace of 43.9%, becoming the main source of income for the majority of music companies.^[7]
In 2021, revenue from music streaming applications reached 251 billion, up 32% from the previous year. The U.S. accounted for almost half of all music streaming app revenue.^[7]
I’d estimate that 80% of the top 100 music labels worldwide have at least one paying customer, and the majority have at least a couple.^[8]
When questioned about the source of their favorite music ninety-three of South Korean music listeners said they preferred to listen to South Korean music.^[9]
Preferred method of music acquisition 63.7% of respondents said they preferred streaming, while just 32% opted to buy a printed copy.^[9]
Warner music group received 15.9% of the money made from physical and streaming music sales worldwide in 2020.^[4]
Because streaming generates 65% of the music industry’s income, these subscribers have a substantial impact on the worldwide music market.^[4]
There were 82.1 million paying subscribers to RB at the start of 2021, and hip-hop made for 30.7% of all on demand music streams in the U.S. that year.^[4]
The recorded music sector in the U.S. and Canada as a whole witnessed a 22% gain, which was much greater than the two nations’ combined 2020 growth rate of 75%.^[4]
However, independent labels and Spotify, which has a market share of 31%, is the biggest music streaming service.^[4]
31.4% of the global income from streaming and physical music purchases was generated by independent record companies in 2020.^[4]
More precisely, subscription audio streams provide 47.3% of the recorded music industry’s worldwide income, while ad-supported streams bring in 17.7%.^[4]
2020 generated 20.6% of the worldwide income from physical and streaming music sales for Sony Music Entertainment.^[4]
30% of those who did this used stream ripping, which is the unlawful practice of storing streaming music.^[4]
The top three record labels in the world together earned 32.1%, 20.6%, and 15.9% of all worldwide streaming and physical music sales income in 2020. Together, they generated 68.6% of this industry’s global revenue.^[4]
Because they didn’t work with a record label, artists direct saw their total yearly income increase by 34.1% from 2019 to 2020, and as a result, they owned 51% of the recorded music industry in 2020.^[4]
The biggest record label in the world, universal music group, earned 32.1% of the total income from retail and streaming music worldwide in 2020.^[4]
Global recorded music sales drop 84%, per IFPI 2011 report by top international sellers Eminem and Lady Gaga.^[5]
US-based universal music group, controls 32.41% of EMI music Sony Music Entertainment, a U.S.-based company that controls EMI group’s publishing arm, owns 67.8% of the company.^[5]
In the united states, there were 17 million stream rippers in 2017. This information comes from the market research company music watch.^[2]
In 2021, apple music generated $5 billion in sales or 6.4% of the company’s overall services revenue. As of June 20, there were 88 million apple music subscribers.^[3]
Next is apple music at 15%, although in terms of what it pays its artists, Apple Music outperforms Spotify.^[4]
However, Tencent music, Amazon music, and Apple music, each of which has 13% of the subscription market, are not far behind at 15%.^[4]
8% of the market’s total subscriptions are to YouTube music. With 6% in NetEase, and 2% in Deezer and Yandex each, while various other platforms account for the remaining 10%.^[4]

Business Music “Other” Statistics

2011 report Eminem and Lady Gaga are the top international sellers, with global record sales falling 84%.^[5]
CD sales accounted for around 21% of 2003’s total gross CD income figures.^[5]
The big four were founded in 2004 by a joint venture between Sony and BMG when the size of the worldwide industry was projected to be $30-40 billion.^[5]
As first reported on August 5, 2008, Sony Corporation stated in October 2008 that it had finalized the purchase of Bertelsmann’s 50% share in Sony BMG.^[5]
Spotify gives around 70% to rights holders, who then pay artists under their contracts.^[5]
In the last ten years, between 15 %and 30% of tunes on streaming sites had no artist information attached to them.^[5]
According to the most current data from RIAJ, the streaming market grew noticeably in 2018, as seen by the 30% and 62% increases in audio subscription and ad-supported video streaming revenues, respectively.^[1]
Nevertheless, since certain areas, including Russia and India, have lower pricing, streaming income only increased by 19.5%.^[2]
Music education in the united states in 2017 because with COVID-19, the concert industry was predicted to lose billions.^[2]
According to the verges study, sales of physical media increased in 2019 according to Statista.^[2]
In the U.S., streaming service income is so robust that it increased by 26% in the first half of 2019.^[2]
The overall number of albums purchased in the U.S. is also up, by 11.3%, to 802.5 million from 893.1 million.^[2]
12.3 million people attended the virtual concert, which increased streaming figures by 136%.^[2]
The majority of poll participants believed Kpop was well known and popular among the general public rather than being restricted to fan communities, according to a 2021 study on the genre’s popularity throughout the globe.^[9]
However, in terms of video streams, it outperformed rock with 13.5% of plays as opposed to 11.4% for rocks.^[4]
With 31% of the market share in terms of subscriptions, Spotify has the greatest fraction of these users.^[4]
These artists’ earnings increased far more quickly than the industry’s overall revenue growth of 7%.^[4]
This proportion, which includes both paid subscription audio and ad-supported free subscription streams, increased from the 2020 share of 61.9%.^[4]
Compared to the industry’s overall revenue growth rate of 7% during the same period, this group of artists’ total revenue increased by 34.1% between 2019 and 2020.^[4]
Together, the U.S. and Canada had a growth rate of 22% this year, rising from a rate of 7.5% in 2020.^[4]

How Useful is Business Music

One of the key benefits of business music is its ability to create an atmosphere and set the tone for a particular establishment. For example, a fast-paced upbeat tune may encourage customers to shop quickly in a retail store, while a mellow jazz track may invite diners to relax and enjoy their meal in a restaurant. In this sense, business music can be a powerful tool for influencing consumer behavior and driving sales.

Furthermore, business music has been shown to have a positive impact on employee morale and productivity. Studies have found that playing music in the workplace can help reduce stress, improve mood, and increase focus. This can lead to happier, more productive employees who are more likely to provide better customer service and contribute to a more positive work environment.

In addition, business music can also help to create brand identity and reinforce the overall theme and messaging of a business. The choice of music can convey a certain image and appeal to a specific target demographic. For example, a trendy clothing store may play the latest pop hits to attract young shoppers, while a luxury hotel may opt for classical music to create an air of sophistication and elegance.

However, while business music can have many benefits, it is essential to recognize that it is not always well-received by all consumers. Some people may find certain genres of music irritating or distracting, leading them to avoid frequented establishments or have a negative perception of the brand. This highlights the importance of selecting music that is appropriate for the target audience and in line with the overall brand image.

Moreover, the use of business music raises questions about the ethics of using music for commercial purposes. Some argue that artists should be properly compensated for the use of their music in businesses, as it can help promote their work and increase their visibility. On the other hand, others believe that businesses should have the freedom to use music to enhance the customer experience without facing exorbitant licensing fees.

Ultimately, the usefulness of business music depends on how it is utilized and the context in which it is played. When done thoughtfully and strategically, music can be a powerful tool for creating a positive atmosphere, influencing consumer behavior, and reinforcing brand identity. However, businesses must be mindful of the preferences of their target audience and the ethical considerations surrounding the use of music in commercial settings.

As technology continues to evolve, the possibilities for utilizing business music will only continue to expand. It will be interesting to see how businesses adapt and innovate in the ever-changing landscape of retail and hospitality, and how music will continue to play a role in shaping the customer experience.

Reference

soundcharts – https://soundcharts.com/blog/japan-music-market-overview
toneisland – https://toneisland.com/music-industry-statistics/
businessofapps – https://www.businessofapps.com/data/apple-music-statistics/
zippia – https://www.zippia.com/advice/music-industry-statistics/
wikipedia – https://en.wikipedia.org/wiki/Music_industry
bls – https://www.bls.gov/ooh/entertainment-and-sports/musicians-and-singers.htm
businessofapps – https://www.businessofapps.com/data/music-streaming-market/
musicbusinessworldwide – https://www.musicbusinessworldwide.com/why-soundcharts-used-by-all-major-record-companies-is-not-your-typical-music-data-aggregator/
statista – https://www.statista.com/topics/5098/music-industry-in-south-korea/
musicbusinessworldwide – https://www.musicbusinessworldwide.com/
zippia – https://zippia.com/advice/music-industry-statistics/