The revenue in the 'Physically Recorded Music' segment of the media market in the United Kingdom was forecast to continuously decrease between 2024 and 2029 by in total 61.7 million U.S. dollars (-15.98 percent). According to this forecast, in 2029, the revenue will have decreased for the fifth consecutive year to 324.35 million U.S. dollars. Notably, the revenue of the 'Physically Recorded Music' segment of the media market was continuously increasing over the past years.
Data provided by Statista Market Insights are estimates.
Definition:
The Traditional Music market refers to the industry involved in creating, distributing, and experiencing music through conventional means, such as physical formats like CDs and vinyl records, as well as live music events. This market caters to a wide range of musical tastes and preferences, spanning genres like classical, jazz, folk, and popular music, and plays a vital role in preserving cultural heritage while also fostering artistic expression and entertainment.
Structure:
The Traditional Music market comprises the sale of physical recorded music, such as CDs, vinyl records, and cassette tapes, along with revenue generated from live music ticket sales.
Additional Information:
The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through purchases. Key players in the market are companies, such as Universal Music Group, Sony Music Entertainment, and Warner Music Group.
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Statista. (October 15, 2024). Revenue of the physical recorded music market in the United Kingdom from 2020 to 2029 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1173790/physical-recorded-music-revenue-forecast-uk
Statista. "Revenue of the physical recorded music market in the United Kingdom from 2020 to 2029 (in million U.S. dollars)." Chart. October 15, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1173790/physical-recorded-music-revenue-forecast-uk
Statista. (2024). Revenue of the physical recorded music market in the United Kingdom from 2020 to 2029 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1173790/physical-recorded-music-revenue-forecast-uk
Statista. "Revenue of The Physical Recorded Music Market in The United Kingdom from 2020 to 2029 (in Million U.S. Dollars)." Statista, Statista Inc., 15 Oct 2024, https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1173790/physical-recorded-music-revenue-forecast-uk
Statista, Revenue of the physical recorded music market in the United Kingdom from 2020 to 2029 (in million U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1173790/physical-recorded-music-revenue-forecast-uk (last visited November 10, 2024)
Revenue of the physical recorded music market in the United Kingdom from 2020 to 2029 (in million U.S. dollars) [Graph], Statista, October 15, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1173790/physical-recorded-music-revenue-forecast-uk
