Music Market to Grow at a CAGR of 8.07% Through 2032 as Online Platforms Capture 88.49% Share, Reports Mordor Intelligence

The music market is projected to reach USD 57.74 billion by 2032, driven by paid streaming subscriptions, smartphone adoption, and digital music discovery, with North America maintaining the largest regional market share.

Hyderabad, India, Oct. 28, 2026 (GLOBE NEWSWIRE) -- According to the latest report published by Mordor Intelligence, the music market size is projected to grow from USD 36.13 billion in 2026 to USD 39.17 billion in 2027 and reach USD 57.74 billion by 2032, registering a CAGR of 8.07% during the forecast period (2027–2032). 

The report highlights that subscription-based streaming, expanding digital access, and growing demand for licensed music are creating opportunities across the global music industry. Record labels, publishers, streaming services, and licensing organizations are seeking to monetize music across digital platforms, commercial establishments, and emerging applications. While online distribution provides access to wider audiences, copyright infringement, rising artist royalties, and fragmented licensing requirements continue to influence industry economics. 

Key Music Market Trends Shaping Future Growth 

Paid Streaming and Digital Music Discovery Expand Revenue Opportunities 

Subscription-based streaming remains central to the music market, supported by recurring consumer payments and expanding digital access. Paid access continues to play an important role for recording companies and music rights holders, while streaming services strengthen their relationships with listeners through personalized recommendations, curated playlists, and broader music catalogs. 

Social media and short-form video platforms are also strengthening music discovery by connecting songs with potential listeners. Integrations that allow users to Save music discovered through videos directly to streaming playlists create a pathway from social engagement to continued listening. As discovery increasingly occurs across digital channels, labels and distributors have opportunities to coordinate release promotion with streaming availability and audience engagement. 

Catalog Investments and Licensed AI Applications Create New Revenue Streams 

Investment in music catalogs is expanding the commercial opportunities available to record labels, publishers, and investors. Acquisitions provide access to established repertoires that can generate revenue through streaming, publishing, performance licensing, and other authorized uses. These investments also allow rights holders to strengthen their catalogs and explore additional monetization opportunities across digital platforms and commercial applications. 

Artificial intelligence is introducing new possibilities for music licensing while raising questions about copyright ownership and consent. Licensing agreements involving AI music creation platforms offer rights holders opportunities to explore emerging applications while establishing permissions for participating artists and songwriters. Providers with clear rights ownership, licensing capabilities, and established distribution relationships are better positioned to pursue these opportunities. 

"The music market is benefiting from the expansion of digital streaming, evolving music discovery habits, and growing investment in music rights and catalogs. As audiences engage with music across streaming services, social media, and emerging AI-powered platforms, industry participants are exploring new ways to monetize content, strengthen audience relationships, and expand licensing opportunities. Mordor Intelligence's research evaluates these developments alongside changing distribution models, genre preferences, and regional growth patterns to help decision-makers identify emerging market opportunities," says Ashish Gautam, Senior Research Manager, Mordor Intelligence. 

Check out more details and stay updated with the latest industry trends, including the Japanese version for localized insights https://www.mordorintelligence.com/ja/industry-reports/music-market-landscape?utm_source=globenewswire 

Table of Contents (Partial) – Music Industry 

1. INTRODUCTION 

1.1 Study Assumptions and Market Definition 

1.2 Scope of the Study 

2. RESEARCH METHODOLOGY 

3. EXECUTIVE SUMMARY 

4. MARKET LANDSCAPE 

4.1 Market Overview 

4.2 Market Drivers 

4.2.1 Accelerated Adoption of Music-Streaming Subscriptions 

4.2.2 Rising Smartphone and Internet Penetration in Emerging Markets 

4.2.3 Growth of Social Media and Short-Form Video Platforms Fueling Music Discovery 

4.2.4 Strong Investment and Catalog Acquisitions by Record Labels and Private Equity 

4.3 Market Restraints 

4.3.1 Persistent Copyright Infringement and Digital Piracy 

4.3.2 Growing Bargaining Power of Top Creators Driving Royalty Costs 

4.3.3 Fragmentation of Licensing Regimes in Emerging Markets 

4.4 And more 

5. MARKET SIZE AND GROWTH FORECASTS (VALUE) 

5.1 By Revenue Generation Format 

5.1.1 Streaming 

5.1.2 Digital Downloads 

5.1.3 Physical Products 

5.1.4 Performance Rights 

5.1.5 Synchronization Revenues 

5.1.6 Merchandising and Licensing 

5.2 By Genre 

5.2.1 Pop 

5.2.2 Rock 

5.2.3 Hip-Hop / Rap 

5.2.4 Electronic / Dance 

5.2.5 Classical 

5.2.6 Jazz 

5.2.7 Country 

5.2.8 Latin 

5.3 By Distribution Channel 

5.3.1 Online Platforms 

5.3.2 Offline / Brick-and-Mortar Retail 

5.4 By End User 

5.4.1 Individual Consumers 

5.4.2 Commercial Establishments 

5.4.3 Media and Entertainment Producers 

5.4.4 Brands and Advertisers 

5.4.5 Event and Concert Organizers 

5.5 By Geography 

5.5.1 North America 

5.5.2 South America 

5.5.3 Europe 

5.5.4 Asia Pacific 

5.5.5 Middle East and Africa 

6. COMPETITIVE LANDSCAPE 

6.1 Market Concentration 

6.2 Strategic Moves 

6.3 Market Share Analysis 

6.4 Company Profiles 

6.4.1 Universal Music Group N.V. 

6.4.2 Sony Music Entertainment 

6.4.3 Warner Music Group Corp. 

6.4.4 BMG Rights Management GmbH 

6.4.5 Kobalt Music Group Ltd. 

6.4.6 And more 

7. MARKET OPPORTUNITIES AND FUTURE OUTLOOK 

7.1 White-Space and Unmet-Need Assessment 

Music Market Regional Outlook 

North America remains the largest regional market for music, supported by established streaming services, paid subscriptions, and a developed music-rights ecosystem. The United States continues to provide a significant revenue base for recorded music, while Canada's growing on-demand audio consumption creates additional digital distribution opportunities. Competition increasingly centers on subscriber retention, rights management, and the commercial value of established music catalogs. 

Asia Pacific is expected to experience the fastest market growth, driven by expanding internet access, smartphone adoption, and the growing availability of digital music services. China's recorded-music industry continues to Benefit from rising consumer demand, while artists across markets such as Indonesia are reaching international audiences through streaming platforms. Local licensing arrangements, royalty distribution, and access to international platforms remain important considerations for companies seeking to expand across the region. 

Europe benefits from established music publishers, digital distribution services, and licensing frameworks that support the commercial use of music. South America offers further opportunities as recorded-music consumption increases and digital licensing arrangements expand. In the Middle East and Africa, wider streaming adoption and improvements in digital access support market development. Differences in copyright enforcement, royalty collection, and infrastructure availability continue to shape the commercial prospects of music providers across these regions. 

Check Out Related Reports Published by Mordor Intelligence 

Music Streaming Market Outlook 

The music streaming market is projected to grow from USD 27.23 billion in 2027 to USD 40.23 billion by 2032, registering a CAGR of 8.12%. Growth is driven by rising paid-subscription adoption, expanding digital music libraries, personalized recommendations, and wider smartphone usage. Continued improvements in streaming experiences and music discovery are expected to support market expansion. 

Live Music Market Trends 

The live music market is expected to grow from USD 57.71 billion in 2027 to USD 77.89 billion by 2032, at a CAGR of 6.18%. Growth is supported by increasing demand for live entertainment, concerts, music festivals, and immersive audience experiences. Artist tours, event diversification, and expanding consumer spending on in-person entertainment are creating further opportunities for market participants. 

Audio Streaming Market Growth 

The audio streaming market is forecast to increase from USD 54.54 billion in 2026 to USD 115.59 billion by 2031, registering a CAGR of 16.21%. Growth is driven by rising smartphone penetration, on-demand listening, expanding podcast consumption, and the adoption of subscription-based audio services. Personalized content, improved platform accessibility, and growing demand for digital entertainment are further supporting market growth. 

About Mordor Intelligence 

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