Music - Ireland
Ireland- The Music market in Ireland is expected to witness substantial growth in the coming years.
- According to projections, the total revenue in this market is set to reach US$15.18m by 2022.
- Furthermore, it is anticipated that the market will experience a steady annual growth rate of 9.84% (CAGR 2022-2027), resulting in a projected market volume of US$25.13m by 2027.
- When examining the various revenue streams within the Music market, it is estimated that in-app purchase (IAP) revenue will reach US$4.89m in 2022.
- Additionally, paid app revenue is projected to reach US$865.30k in the same year.
- Advertising revenue is also expected to make a significant contribution, with a projected value of US$9.42m in 2022.
- Moreover, the number of downloads within the Music market is anticipated to reach 4.52m downloads in 2022.
- Currently, the average revenue per download is estimated to be US$3.36.
- When considering a global comparison, it is intriguing to note that United States generates the highest revenue in the Music market.
- In 2022 alone, the projected revenue for the United States is an impressive US$4.48bn.
- Key regions:
- Asia,
- Europe,
- United States,
- India,
- South Korea
Definition:
The Music market contains apps that enable users to listen to a wide variety of music and audio files. The most popular apps are Spotify and Pandora, music streaming services whose advanced recommender systems help users to discover new artists based on their current tastes and create unique music playlists. Meanwhile, through cutting-edge technology, the Shazam app is able to identify any piece of music, even in noisy environments. Apps that support the composition, performance, and/or recording of music also fall into this category.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
