Omdia predicts recorded music retail sales will reach $50 billion in 2026

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Subscriptions and advertising will be the main growth drivers. Spending on subscriptions will jump 17% this year, to $25 billion. By 2026, spending will total $33.6 billion and represent 67.1% of worldwide turnover. Digital music advertising revenue will exceed spending on physical formats in 2024 and grow to $6.8 billion in 2026.

“The continued shift from recorded music ownership to access means global retail sales will set annual records for the next few years and beyond. Probably the sweetest thing for music companies is that emerging markets are starting to live up to their billing Markets previously lost to hacking are really starting to shine,” commented Simon DysonOmdia Senior Senior Analyst, Music and Digital Audio.

Omdia is waiting France to leave the top five this year when overtaken by China. Besides, China is about to overtake Germany in 2026. Sales in the world’s most populous country are expected to more than double from $1.4 billion in 2021 for $3.2 billion in 2026. China The share of global recorded music revenue will increase over the same five years, from 3.7% to 6.5%. However, it should be noted that even though the country will become a market of more than 2 billion dollars in 2023, the per capita income will still be low, at only $1.51.

About Omdia

Omdia is a leading research and advisory group focused on the technology industry. With clients operating in over 120 countries, Omdia provides critical market data, analysis, advice and personalized advice.

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