Us Music and Video Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Music and Video Market was valued at USD 80 Billion in 2022 and is projected to reach USD 150 Billion by 2030, growing at a CAGR of 8% from 2024 to 2030.
The U.S. music and video market has experienced remarkable growth, driven by technological advancements and evolving consumer preferences. In 2023, the U.S. music streaming market was valued at approximately $12.28 billion, with projections indicating a compound annual growth rate (CAGR) of 12.8% from 2024 to 2030. This surge is largely attributed to the widespread adoption of digital platforms and the ubiquity of smart devices, enabling users to access music and video content seamlessly.
Similarly, the U.S. video streaming market has witnessed significant expansion. Valued at $18.79 billion in 2023, it is expected to grow at a CAGR of 19.8% between 2024 and 2030. Factors such as increased internet penetration, the rollout of 5G services, and changing consumer habits have contributed to this upward trajectory.
From personal experience, the convenience of accessing a vast library of content on-demand has transformed my media consumption habits. Services like Spotify and Netflix have become integral to daily life, offering personalized content that caters to diverse tastes. This shift towards digital consumption is evident in the broader market trends.
In 2024, global music streams reached an unprecedented 4.8 trillion, marking a 14% increase from the previous year. In the U.S. alone, on-demand audio streams hit 1.4 trillion, a 6.4% rise. Notably, female pop artists such as Taylor Swift and Billie Eilish have been at the forefront of this surge, with pop music emerging as the fastest-growing genre in the country.
However, the industry faces challenges. The rapid growth in streaming has led to market saturation, particularly in mature markets like the U.S. This saturation has resulted in a deceleration of streaming revenue growth, prompting companies to explore new revenue streams. For instance, Universal Music Group is considering premium offerings targeting "superfans" willing to pay for exclusive content and experiences.
Moreover, the resurgence of physical formats, especially vinyl records, has added a unique dimension to the market. Vinyl sales have seen a sharp increase, with projections suggesting they could generate $1 billion annually in the U.S. by the end of 2024. This trend reflects a consumer desire for tangible music experiences alongside digital convenience.
In conclusion, the U.S. music and video market is at a pivotal juncture. While digital streaming continues to dominate, challenges like market saturation and revenue diversification are prompting industry stakeholders to innovate. Balancing digital and physical media, alongside exploring new monetization strategies, will be crucial for sustained growth in this dynamic landscape.
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Panasonic
Samsung
Sony
Toshiba
JVC
Philips
Hitachi
Hisense
Hyundai
TCL
Alba
Logik
Skyworth
Maxwell
Haier
Coby
Emerson
Changhong
Roland
Behringer
Yamaha
Infinity Systems
Gibson Musical
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Boosey & Hawkes
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Music and Video Market
Streaming Services
Subscription-based (e.g., Spotify, Apple Music)
Ad-supported (e.g., Pandora, YouTube Music)
Digital Downloads
Physical Sales
Vinyl Records
CDs
Radio Broadcasting
Traditional AM/FM
Internet Radio
MVideo Streaming Platforms
Subscription services (e.g., Netflix, Hulu)
Ad-supported services (e.g., YouTube)
Music Video Platforms
YouTube
Vevo
Live Streaming
Concerts and festivals
Social media live events
Original Content Productions
Age Groups
Gen Z (under 24 years)
Millennials (25-40 years)
Gen X (41-56 years)
Baby Boomers (57 years and older)
Gender
Income Levels
Low Income
Middle Income
High Income
Education Levels
High School Graduates
College Graduates
Post-Graduate Graduates
Popular Music
Rock
Hip-Hop/Rap
Electronic/Dance
Classical
Jazz
Country
Traditional Country
Modern Country
Social Media Platforms
TikTok
Podcasts
Apps & Tools
Playlist Creators
Music Discovery Apps
Live Events
Concerts
Festivals
Local Gigs
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Music and Video Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Music and Video Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Music and Video Market, By Type
6. Global Music and Video Market, By Application
7. Global Music and Video Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Music and Video Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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