The accounting firm forecasts global music, radio and podcasting revenue rising from $104.4 billion in 2022 to $120.6 billion in 2027.
The outlook? PwC forecasts a compound annual growth rate in global music, radio and podcasting for 2022-2027 of 2.7 percent, with revenue rising from $104.4 billion in 2022 and $110.9 billion in 2023 to $120.6 billion in 2027. While radio will post a slight decline over that period, digital music streaming is forecast to post a compound annual growth rate of 11.6 percent, with recorded music seeing a 6.5 percent gain and live music a 2.0 percent increase.
The story of music has really been growth coming through live events, and we’re still continuing to forecast growth, including in streaming. You have seen that dominate headlines, but we see music growth. Live events are coming back, and streaming is continuing to grow.
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