Music Downloads - Guatemala | Statista Market Forecast

The Music Downloads market in Guatemala is projected to reach a revenue of US$703.20k by 2024.
It is expected to demonstrate a compound annual growth rate (CAGR 2024-2027) of 3.62%, resulting in a projected market volume of US$782.50k by 2027.
In comparison to other countries, United States is expected to generate the highest revenue in the Music Downloads market, estimated at US$357.10m in 2024.
By 2027, the number of users in the Music Downloads market in Guatemala is expected to reach 682.3k users.
The user penetration rate is projected to increase from 3.4% in 2024 to 3.4% by 2027.
Guatemala has seen a surge in demand for music downloads, driven by the increasing popularity of local artists and the availability of affordable internet access.

Music Downloads are defined as paid downloads of professionally produced single tracks or albums/compilations. Digital music files, e.g. in the MP3-format, can be purchased per one-time transaction and are then permanently accessible for the user. The most popular digital music download platform is Apple’s iTunes. Digital audio books are not included.

Paid downloads of professionally produced single tracks or albums/compilations
Permanently accessible after purchase

With music streaming services like Spotify and Apple Music in their heyday, downloading music looks like a relic of the past. Although this perception is very true for developed countries, it is not necessarily the case in emerging or developing countries. Music Streaming relies heavily on a stable and fast mobile internet connection – a technical requirement that still many countries in the world are lacking. Downloading single music files instead can even be accomplished with low speed internet connection. Thus, under these circumstances, downloading single files turns out to still be the most convenient way of consuming Digital Music.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Digital Music market. Digital music is defined as audio content distributed to the end-user over the internet. This includes paid digital downloads of professionally produced single tracks or albums/compilations as well as 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., the Statista Global Consumer Survey), 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). GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.