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Music Market to Grow at a CAGR of 8.07% Through 2032 as Online Platforms Capture 88.49% Share, Reports Mordor Intelligence
The global music market is projected to grow from USD 36.13 billion in 2026 to USD 57.74 billion by 2032, with a CAGR of 8.07%. Growth is driven by paid streaming subscriptions, smartphone adoption, and digital music discovery, with online platforms capturing 88.49% market share.
North America leads regionally, while Asia Pacific shows fastest growth. Key challenges include copyright infringement, rising artist royalties, and fragmented licensing requirements.