Global Music Recording Market Report 2021: Impact of COVID 19

New York, Jan. 28, 2021 (GLOBE NEWSWIRE) — announces the release of the “Music Recording Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – ?utm_source=GNW
05 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $74.11 billion in 2025 at a CAGR of 7%.

The music recording market includes revenue from the production and distribution of music recordings, music publishing, or the provision of sound recordings and related services earned by entities (organizations, individual companies and partnerships) who are in the music recording industry. The music recording market is segmented into record production; music publishers; distribution of records and sound recording studios.

Asia-Pacific was the largest region in the global music recording market, accounting for 34% of the market in 2020. North America was the second largest region, accounting for 32% of the global music recording market . Africa was the smallest region in the global music recording market.

Many music recording companies offer auto-tuning apps to let singers exaggerate vocals and create a perfect new sound. Auto-Tune is audio processing software used to measure and alter the pitch of vocal and instrumental music recordings and performances. It is used to correct small inaccuracies, when singers sing out of tune, and to retain the emotional content of the performance. For example, major music recording studios offering automatic tuning software are Abbey Road Studios, London and Capitol Studios, Los Angeles to tune vocal recordings, add special effects and natural sound allowing the singer to have a its perfect.

Coronavirus pandemic – The coronavirus disease (COVID-19) outbreak acted as a significant drag on some of the music recording markets in 2020 as businesses were disrupted due to lockdowns imposed by governments around the world whole. COVID 19 is an infectious disease with flu-like symptoms including fever, cough and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have led to a drop in economic activity and restricted the movement of goods and services, with countries entering a state of “lockdown”. The outbreak is expected to continue to negatively impact businesses through 2020 and into 2021. However, many media markets have been unaffected or have benefited as they transmit their content remotely via digital channels. The music recording market is expected to recover from the shock during the forecast period as it is a “black swan” event and not related to any persistent or fundamental market weaknesses. or the global economy.

Rise in Mobile and Tablet Platforms – Access to music on mobile platforms has increased significantly in recent years and this trend is expected to continue during the forecast period, thereby driving the music recordings market. This is mainly due to the rise in internet penetration and the growth of smart phones and tablets, especially in emerging countries. By the end of 2019, 72% of mobile traffic is expected to be video content. Thus, the increase in demand for music content through mobile platforms is expected to have a positive effect on the market during the forecast period.
Read the full report:

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.


Comments are closed.