In 2029, the revenue change is forecast to significantly decrease in all segments compared to the previous time point. Concerning the two selected segments, the segment Music Streaming has the largest revenue change with 4.49 percent. Contrastingly, Music Downloads is ranked last, with -4.39 percent. Their difference, compared to Music Streaming, lies at 8.88 percentage points.
Data provided by Statista Market Insights are estimates.
Definition:
Digital music refers to music that is stored, transmitted, and accessed in a digital format, typically through electronic devices such as computers, smartphones, tablets, and digital audio players. Digital music can be created, distributed, and consumed entirely in digital form, without the need for physical media such as CDs, vinyl records, or cassette tapes. Digital music can be in various file formats, such as MP3, AAC, FLAC, or WAV, and can be downloaded, streamed, or purchased online from digital music platforms, online stores, or streaming services. Digital music has revolutionized the way music is produced, distributed, and consumed, providing greater accessibility, convenience, and flexibility for music lovers around the world.
Structure:
The market consists out of music streaming, which is the streaming of music through apps on a subscription basis, music downloads, which is the download of music on a device, music streaming advertising and podcast advertising, which are the advertising spendings in each of the markets.
Additional Information:
The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through purchases and subscriptions. Market numbers for digital music can also be found in the digital media topic. Key players in the market are companies, such as Spotify, Apple or Amazon.
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Statista. (November 12, 2024). Digital music revenue growth in the United States from 2020 to 2029, by format [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/460069/digital-music-revenue-growth-format-digital-market-outlook-usa/
Statista. "Digital music revenue growth in the United States from 2020 to 2029, by format." Chart. November 12, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/460069/digital-music-revenue-growth-format-digital-market-outlook-usa/
Statista. (2024). Digital music revenue growth in the United States from 2020 to 2029, by format. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/460069/digital-music-revenue-growth-format-digital-market-outlook-usa/
Statista. "Digital Music Revenue Growth in The United States from 2020 to 2029, by Format." Statista, Statista Inc., 12 Nov 2024, https://www.statista.com/statistics/460069/digital-music-revenue-growth-format-digital-market-outlook-usa/
Statista, Digital music revenue growth in the United States from 2020 to 2029, by format Statista, https://www.statista.com/statistics/460069/digital-music-revenue-growth-format-digital-market-outlook-usa/ (last visited November 21, 2024)
Digital music revenue growth in the United States from 2020 to 2029, by format [Graph], Statista, November 12, 2024. [Online]. Available: https://www.statista.com/statistics/460069/digital-music-revenue-growth-format-digital-market-outlook-usa/