The Musical Groups And Artists Market size is estimated at USD 30.30 billion in 2024, and is expected to reach USD 43.60 billion by 2029, growing at a CAGR of 7.55% during the forecast period (2024-2029).
The music groups and artists market is highly competitive. With the decline in physical album sales, artists have diversified their revenue streams. They rely on income sources, including streaming royalties, merchandise sales, brand partnerships, sponsorships, and fan-supported platforms such as Patreon and crowdfunding. The major players are BMG Rights Management GmbH, Kobalt Music Group, Ltd., Sony Music Entertainment, Universal Music Group, and Warner Music Inc..
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