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Musical Groups & Artists in the US - Industry Market Research Report

  • ID: 4451620
  • Report
  • December 2021
  • Region: United States
  • 38 Pages
  • IBISWorld
Listen closely: Rising consumer spending will likely translate into increasing ticket sales, boosting industry revenue

Musical Groups & Artists in the US


The Musical Groups and Artists industry has been subject to a series of massive shakeups due to the popularity of mp3 players, music piracy, internet radio and online streaming. The steady replacement of physical albums with digital downloads has slashed revenue from record sales, largely due to digital music selling at a lower price point. The transition to digital and sustained cuts in federal funding for the creative arts have caused industry revenue to grow modestly over the five years to 2019. Over the five years to 2024, industry revenue growth is expected to decelerate. Rising per capita disposable income will increase consumers' ability to pay for songs, albums and concert tickets. However, incomes are expected to grow at a slower rate than in the previous period. Amid the continued presence of cost-effective options to consume music, industry growth expectations will remain modest.

This industry is composed of musicians, recording artists and songwriters that produce music professionally, either in front of a live audience, in a recording studio or both. Musicians in this industry may earn revenue from songwriting, producing or recording, but they primarily operate as performers. This industry excludes musical theater, opera and other professions involved in the creation of records, such as engineers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Note: Product cover images may vary from those shown

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources

INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle

PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations

COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization

MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance

KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios

JARGON & GLOSSARY
Note: Product cover images may vary from those shown

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