Digital Music - Egypt

Egypt

Highlights

In Egypt, revenue in the Digital Music market market is projected to reach US$60.24m in 2024.
Revenue in this market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 10.18%, leading to a projected market volume of US$97.80m by 2029.
The dominant market within the Digital Music market market in Egypt is Music Streaming, which is forecasted to have a market volume of US$37.06m in 2024.
Compared to global figures, the majority of revenue in the Digital Music market market will be generated the United States, with an anticipated revenue of US$19.08bn in 2024.
By 2029, the number of users in the Digital Music market market in Egypt is expected to reach 23.3m users.
User penetration is predicted to be 18.1% in 2024, with an increase to 18.9% by 2029.
In 2023, Spotify is estimated to hold a usage share of 47.0% within the Digital Music market market in Egypt.
In the year 2023, there is a share of 39.1% of users classified in the 39.1% group.
In Egypt, the digital music landscape is increasingly influenced by local artists leveraging social media to reach wider audiences and enhance engagement.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digital Music market in Egypt has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing availability of digital music platforms. Customer preferences in Egypt have shifted towards digital music consumption due to its convenience and affordability. With the rise of smartphones and internet penetration, consumers are increasingly turning to online platforms to stream and download music. This shift in preferences has led to a decline in physical music sales, such as CDs, as digital music offers a more accessible and portable option for music lovers. Trends in the Egyptian Digital Music market reflect the global trend of streaming services becoming dominant. Streaming platforms such as Spotify and Apple Music have gained popularity among Egyptian consumers, providing them with a vast library of music at their fingertips. The convenience of streaming services, along with personalized recommendations and curated playlists, has attracted a large user base in Egypt. Additionally, local players like Anghami have emerged as key players in the market, catering to the specific preferences of Egyptian music listeners. Local special circumstances have also contributed to the growth of the Digital Music market in Egypt. The country has a rich music culture, with a diverse range of genres and artists. The popularity of Egyptian music, both traditional and contemporary, has fueled the demand for digital music platforms. Furthermore, social media platforms have played a significant role in promoting Egyptian music and connecting artists with their fans. Platforms like YouTube and SoundCloud have allowed independent artists to gain exposure and reach a wider audience, contributing to the overall growth of the Digital Music market in Egypt. Underlying macroeconomic factors have also played a role in the development of the Digital Music market in Egypt. The country has witnessed a steady increase in internet penetration and smartphone adoption, providing a solid foundation for the growth of digital music consumption. Additionally, the government has been supportive of the digital economy, implementing policies to encourage the growth of the sector. This has created a favorable environment for digital music platforms to thrive and expand their user base in Egypt. Overall, the Digital Music market in Egypt is experiencing significant growth, driven by changing customer preferences, the rise of streaming platforms, local special circumstances, and favorable macroeconomic factors. As the market continues to evolve, it is expected that digital music consumption will further increase, providing new opportunities for both local and international players in the industry.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Music, Radio & Podcasts market, which comprises all revenues generated by traditional and digital radio advertising, consumer purchases of live music event tickets, all sales of tangible audio recording formats, paid digital downloads of professionally produced single tracks / compilations, ad-supported services, and subscription-based, on-demand streaming services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.