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The Traditional Music Market is estimated at US$13.59 Billion in 2019 and is expected to rise to about US$34.18 Billion by 2030, a CAGR of 15.8%.
There is a subset of the music business called the Traditional Music Market that caters to the creation, distribution, and listening to traditional or folk music that reflects established cultural norms. Cultural preservation initiatives, rising interest in heritage, and internationalization have all contributed to the market's consistent expansion. It spans several musical styles, making it accessible to a wide spectrum of listeners, from those who place importance on tradition to those who are looking for something new. The global market was worth around $13.57 billion in 2022, and it is expected to be worth $34.8 billion by 2028, representing a CAGR of 13.8% between 2022 and 2028.
There are differences between regions, with some styles being more popular than others. The widespread availability of streaming services and social media is a direct result of the role performed by digital technology. The challenges include copyright difficulties, commercial sustainability, and the preservation of musical legacy. However, possibilities exist in cooperative efforts, in cultural exchange programs, and in the use of digital infrastructure. Culturally and economically significant Traditional Music Market has to prioritize digital innovations and heritage preservation for future sustainable growth.
The traditional music industry has been impacted badly by the COVID-19 outbreak. Quarantines, shutdowns, travel bans and restrictions, lockdowns, and work-from-home directives were among the actions used by governments around the world in reaction to the outbreak. Not only that, but the epidemic and its aftereffects on the economy had a negative effect on several major live music event planners. As a result, several concerts and festivals featuring live music have been called off or postponed until next year. Market expansion is anticipated in the next years as a result of factors such as the loosening of regulatory constraints and the increasing investment in traditional music in emerging nations.
The expanding base of music fans around the world is a key factor driving the industry forward. In addition, the increasing popularity of concerts in populated locations is expected to fuel market expansion over the next few years. The widespread popularity of traditional music as a form of entertainment in emerging nations is expected to fuel the industry's rapid expansion. Growth in the market is being stymied, however, by the increasing number of smartphone users around the world.
Several forces contribute to the expansion and success of the traditional music industry. To begin, traditional music promotion relies heavily on cultural preservation activities. There have been many global efforts to preserve cultural traditions, including funding for traditional musicians and celebrations. Irish traditional music, for instance, has benefited from the government's efforts to promote and conserve it through the Traditional Arts Initiative.
The growth of global integration has also broadened the appeal of traditional music. Traditional performers can now reach a global audience thanks to the proliferation of digital media platforms and streaming services. As a result, this has sparked the development of cross-cultural partnerships and the fusion of traditional music with current genres, attracting a wider audience. One example is Linda Ronstadt, whose album "Canciones De Mi Padre" was nominated for a Grammy and popularized Mexican traditional music in the United States.
The primary challenge for the Traditional Music Market is the uphill battle of making sure traditional musicians can make a living wage. When compared to more commercially successful styles of music, traditional music's niche fan base makes it harder to turn a profit. Artists' ability to make a profit from their work might be hampered by concerns such as copyright infringement and the illegal usage of traditional music. Overcoming these limitations requires efforts to safeguard intellectual property rights and set up equitable pay procedures for traditional performers.
Report Coverage
Global Traditional Music research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Traditional Music report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Traditional Music competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Traditional Music market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Traditional Music market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Traditional Music market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sony Group Corp., Emi Music Publishing Limited, Concord Music Group, Inc., Universal Music Group, Inc., Vivendi SE, Warner Music Group Corp., Ace Ticket Worldwide Inc., Alliance Tickets, Bassett Events, Brown Paper Tickets LLC, Eventbrite Inc., RazorGator LLC, Ticketmaster Entertainment Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Traditional Music market based on the below-mentioned segments:
Global Traditional Music Market, By Type
Tangible Recording Formats
Live Music Events
Global Traditional Music market, Regional Analysis
There is a subset of the music business called the Traditional Music Market that caters to the creation, distribution, and listening to traditional or folk music that reflects established cultural norms. Cultural preservation initiatives, rising interest in heritage, and internationalization have all contributed to the market's consistent expansion. It spans several musical styles, making it accessible to a wide spectrum of listeners, from those who place importance on tradition to those who are looking for something new. The global market was worth around $13.57 billion in 2022, and it is expected to be worth $34.8 billion by 2028, representing a CAGR of 13.8% between 2022 and 2028.
There are differences between regions, with some styles being more popular than others. The widespread availability of streaming services and social media is a direct result of the role performed by digital technology. The challenges include copyright difficulties, commercial sustainability, and the preservation of musical legacy. However, possibilities exist in cooperative efforts, in cultural exchange programs, and in the use of digital infrastructure. Culturally and economically significant Traditional Music Market has to prioritize digital innovations and heritage preservation for future sustainable growth.
The traditional music industry has been impacted badly by the COVID-19 outbreak. Quarantines, shutdowns, travel bans and restrictions, lockdowns, and work-from-home directives were among the actions used by governments around the world in reaction to the outbreak. Not only that, but the epidemic and its aftereffects on the economy had a negative effect on several major live music event planners. As a result, several concerts and festivals featuring live music have been called off or postponed until next year. Market expansion is anticipated in the next years as a result of factors such as the loosening of regulatory constraints and the increasing investment in traditional music in emerging nations.
The expanding base of music fans around the world is a key factor driving the industry forward. In addition, the increasing popularity of concerts in populated locations is expected to fuel market expansion over the next few years. The widespread popularity of traditional music as a form of entertainment in emerging nations is expected to fuel the industry's rapid expansion. Growth in the market is being stymied, however, by the increasing number of smartphone users around the world.
Several forces contribute to the expansion and success of the traditional music industry. To begin, traditional music promotion relies heavily on cultural preservation activities. There have been many global efforts to preserve cultural traditions, including funding for traditional musicians and celebrations. Irish traditional music, for instance, has benefited from the government's efforts to promote and conserve it through the Traditional Arts Initiative.
The growth of global integration has also broadened the appeal of traditional music. Traditional performers can now reach a global audience thanks to the proliferation of digital media platforms and streaming services. As a result, this has sparked the development of cross-cultural partnerships and the fusion of traditional music with current genres, attracting a wider audience. One example is Linda Ronstadt, whose album "Canciones De Mi Padre" was nominated for a Grammy and popularized Mexican traditional music in the United States.
The primary challenge for the Traditional Music Market is the uphill battle of making sure traditional musicians can make a living wage. When compared to more commercially successful styles of music, traditional music's niche fan base makes it harder to turn a profit. Artists' ability to make a profit from their work might be hampered by concerns such as copyright infringement and the illegal usage of traditional music. Overcoming these limitations requires efforts to safeguard intellectual property rights and set up equitable pay procedures for traditional performers.
Report Coverage
Global Traditional Music research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Traditional Music report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Traditional Music competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Traditional Music market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Sony Group Corp., Emi Music Publishing Limited, Concord Music Group, Inc., Universal Music Group, Inc., Vivendi SE, Warner Music Group Corp., Ace Ticket Worldwide Inc., Alliance Tickets, Bassett Events, Brown Paper Tickets LLC, Eventbrite Inc., RazorGator LLC, Ticketmaster Entertainment Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Traditional Music Market from 2021 to 2030.
- Market Forecast for Traditional Music Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Traditional Music competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Traditional Music
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Traditional Music market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Traditional Music market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sony Group Corp., Emi Music Publishing Limited, Concord Music Group, Inc., Universal Music Group, Inc., Vivendi SE, Warner Music Group Corp., Ace Ticket Worldwide Inc., Alliance Tickets, Bassett Events, Brown Paper Tickets LLC, Eventbrite Inc., RazorGator LLC, Ticketmaster Entertainment Inc.
Primary Target Market
- Market Players of Traditional Music
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Traditional Music market based on the below-mentioned segments:
Global Traditional Music Market, By Type
Tangible Recording Formats
Live Music Events
Global Traditional Music market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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