🎚️Music Market Landscape

The Current State of the Music Industry

The current state of the music industry is characterized by significant growth driven primarily by streaming services. With a projected worth of $30.7 billion in 2024 and an estimated growth rate exceeding 8.5% to reach $45.65 billion by 2029, according to Mordor Intelligence. Streaming platforms like Spotify, Apple Music, and Amazon Music are key contributors to this expansion. Factors such as internet penetration and mobile device usage continue to fuel the adoption of streaming services.

Source: Mordor Intelligence

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